CBI Chief: 2010 Will Be A Year Of Exceptional Challenges For UK Businesses

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Richard Lambert, Director-General of the Confederation of British Industry said 2010 will be a year of exceptional challenges for businesses in Britain. "Looking 12 months ahead, the risks and the opportunities both seem strikingly clear."

Commenting on the economic and political situation in his message for the New Year, Lambert said the international banking crisis is far from resolved. Although conditions at UK banks have improved significantly since the summer, there could be more aftershocks to come from the global credit crunch.

"The Government has not yet established a credible path back to fiscal stability for the UK. The longer this is delayed, the greater the threat to long term interest rates and sterling," said Lambert. "But then there will also be opportunities in the year ahead. We will have a new and re-energized government by the summer, with - we hope - the authority to take the decisions necessary to reshape the public finances."

According to Lambert, the second half of this year might produce rumblings in the public sector, provided the new Government begins to get a grip on the spending side. The year 2010 may be a time of opportunities for those companies with the resources and foresight.

Richard Lambert, Director-General of the Confederation of British Industry said 2010 will be a year of exceptional challenges for businesses in Britain. (Market News Provided by RTTNews)