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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, Prime Minister David Cameron has told the CBI conference. | |
He said the stream of negative news about Europe was affecting confidence. | |
The government's strategy is to pay down debt and focus on growth, he has told 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. | |
The details will come with the Autumn Statement on Tuesday 29 November. | |
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, 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 initiative | Housing initiative |
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 is also at the conference, have also unveiled a government initiative on housing: a £400m fund to boost housebuilding. | |
They promised to break the "current cycle in which lenders won't lend, builders can't build and buyers can't buy". |