Liz Truss knows going for growth will be difficult - but utterly necessary: Beckie Hart

As ever, the CBI has been monitoring events closely, speaking up on the key issues and engaging with key partners and politicians at the conferences in Liverpool and Birmingham.

Now more than ever, it’s vital for business leaders to be engaging with the country’s politicians, and it’s been heartening to see – even amid the current difficulties facing our economy – both Labour and the Tories finding rare common ground in the shared ambition of targeting growth.

Growth has long been the CBI’s key priority – overcoming 15 years of stagnant productivity growth can be transformational for our economy, our businesses, our communities and our lives.

That’s why it has been the central theme of many of the conversations our team has had in and around the conferences. It’s dominated talks with politicians, with members, and with other stakeholders.

There are myriad factors which can contribute to it, of course, which is why the nuance of our conversations touched upon everything from taxes to skills to innovation to childcare reform.

We talked a lot about fiscal credibility in the wake of recent events, the need for details behind the supply side reforms we’re after and the fact we will hold politicians to account for success on this because it’s too important not to make it work.

First, though, we need to ensure stability. This is vital for markets, our region’s businesses and every household. Because without economic stability we’re not going to get to the bold, ambitious growth our politicians aspire to, and which we all want to see.

So, we welcome the Chancellor’s commitment to bring forward publication of the promised OBR forecasts. It was also good to hear him reiterate support for reforms on issues that have been gathering dust for too long – like planning, net zero and immigration.

Likewise, the Prime Minister reasserted her government’s commitment to growth and a pro-enterprise agenda.

Liz Truss has recognised her goal of growth will be difficult. But she also knows it’s necessary.

And that’s something the CBI agrees with.

You can’t borrow at the scale the government has to tackle the energy crisis head on and expect to pursue a business-as-usual economic policy.

Back in February, even before the energy crisis and stagflation hit, we argued the Government was caught in a trap due to growing debt levels, torn between two actions that no one ever wants to take: cutting spending or raising taxes.

We also argued growth is the only way out.

That message has got through – and decision-makers across the political spectrum agree.

They accept that it’s vital to lay the foundations for the private sector to power the growth the UK sorely needs.

CBI members in Yorkshire & the Humber stand ready to deliver, once the Government has filled in the blanks, brought forward legislation and the right policy reforms come on stream.

Beckie Hart is CBI Regional Director for Yorkshire & Humber