A recent survey has reported that 45 per cent of company directors think that over the past ten years, New Labour has had a negative effect on business.

The survey, published by The Institute of Directors in the South West, details the verdict of many business leaders on New Labour’s economic performance.

Whilst macroeconomic performance was seen as a clear success story for New Labour, there is a very strong divide in business opinion between the conduct of monetary and fiscal policy, according to the survey.

The survey also revealed that 46 per cent of company directors think the UK is more competitive now than in 1997, whilst 33 per cent think it is less competitive Despite a positive balance favouring the view that UK competitiveness has improved over the past decade, company directors appear unwilling to give too much of the credit to the Government.

When asked specifically whether Government policy had improved or undermined competitiveness, 46 per cent of company directors think the Government has undermined competitiveness whereas 33 per cent think it has improved competitiveness. 

Despite substantial additional funding, IoD members felt they were yet to see real improvement in the education and skills base. 54 per cent thought the supply of skills has got worse over the past decade, whereas 24 per cent think it has got better.

To read the full report go to www.iod.com

Archive index | Front page