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Cameron tells CBI euro woes having 'chilling effect' Cameron tells CBI euro woes having 'chilling effect'
(40 minutes later)
The crisis in the eurozone is having a "chilling effect" on the UK's economy, the Prime Minister, David Cameron, is set to tell the CBI conference. The crisis in the eurozone is having a "chilling effect" on the UK's economy, Prime Minister David Cameron has told the CBI conference.
He will say the stream of negative news about Europe is affecting confidence. He said the stream of negative news about Europe was affecting confidence.
"Paralysis in the eurozone is causing alarm in the markets and having a chilling effect on economies in many countries - including our own." The government's strategy is to pay down debt and focus on growth, he has told the CBI.
The government's strategy is to pay down debt and focus on growth, he is expected to tell the CBI. He also said that the chancellor would next week announce a "massive credit-easing scheme" to help small and medium-sized businesses borrow money.
"I am absolutely clear about the right answer for the UK economy. It can be summed up in one sentence. We need to deal with our debts and go for growth," he is set to say. The details will come with the Autumn Statement on Tuesday 29 November.
He will also put the case for radical business deregulation and employment law reforms. He also put the case for radical business deregulation and employment law reforms.
The CBI's annual conference, this year being held at a hotel in London's West End, will make boosting UK exports its centrepiece topic, something Mr Cameron is expected to endorse in his address. The CBI's annual conference, this year being held at a hotel in London's West End, has made boosting UK exports its centrepiece topic.
The CBI wants Britain to match the EU average of one in four small-to-medium-sized enterprises exporting by 2020.The CBI wants Britain to match the EU average of one in four small-to-medium-sized enterprises exporting by 2020.
Housing initiativeHousing initiative
Mr Cameron will also tell the conference: "Everyone agrees now that in the past Britain's economy had become lopsided - too dependent on debt, consumption and financial services. Mr Cameron also told the conference: "Everyone agrees now that in the past Britain's economy had become lopsided: too dependent on debt, on consumption, on financial services.
"If we are to build a new model of growth, we need to give a massive boost to enterprise, entrepreneurship and business creation."If we are to build a new model of growth, we need to give a massive boost to enterprise, entrepreneurship and business creation.
"Put simply Britain must become one of the best places to do business on the planet.""Put simply Britain must become one of the best places to do business on the planet."
David Cameron and the Deputy Prime Minister Nick Clegg, who will also be at the conference, will unveil another government initiative on housing: a £400m fund to boost housebuilding. David Cameron and the Deputy Prime Minister Nick Clegg, who is also at the conference, have also unveiled a government initiative on housing: a £400m fund to boost housebuilding.
They will promise to break the "current cycle in which lenders won't lend, builders can't build and buyers can't buy". They promised to break the "current cycle in which lenders won't lend, builders can't build and buyers can't buy".