Vital new PM restores UK 's global reputation - Chamber
Business leaders in Greater Birmingham said that the new Prime Minister must have a credible plan for economic growth following Liz Truss 's resignation.
The call came as it emerged that candidates to succeed Ms Truss have until 2pm on Monday to gather the support of 100 MPs to run.
This fast-tracked contest will mean a new PM will be declared within a week, with the decision in the hands of Tory MPs and possibly Conservative Party members.
Nobody has announced their intention to run yet - but Rishi Sunak and Penny Mordaunt are seen as contenders. Backers of Boris Johnson, who resigned in July following a series of scandals, are urging him to stand
Labour leader Sir Keir Starmer and other opposition parties have called for an immediate general election
Henrietta Brealey (pictured), chief executive of Greater Birmingham Chambers of Commerce (GBCC), said: “There's not enough left to say on this one that hasn't already been said. Liz Truss's brief tenure has been marked by policy U-turns and ongoing economic and political instability that has inevitably hurt consumer and business confidence.
“We are all tired of the ongoing political dramas that directly impact lives and livelihoods.
“With one week until a new leader is in post, the next Prime Minister must get to work straight away to tackle the issues that firms are facing, to turn around the economic outlook for the UK and restore the UK Government's reputation on the international stage.
“Credibility, clarity and a commitment to having a grown-up relationship with UK businesses - the key job and wealth creators - about how we navigate these challenging headwinds in the short and mid-term, and powering prosperity across the country, is essential. ”
Raj Kandola, head of policy for the GBCC, added: “According to our latest Quarterly Business Report Survey, more than half of firms are expecting to raise their prices, with nearly a third attributing this to rising utility costs.
“The new Prime Minister must provide businesses with greater clarity on the Energy Bill Relief Scheme and what can they expect beyond April, as well as immediate action on surging upfront costs.
“Locally, the Chamber will continue to amplify local businesses ' views and share insight and best practice on navigating the current climate. On the 2 November we will be holding our Sustainable Business Conference, exploring the challenges and opportunities of the transition to Net Zero with influential and informed speakers from across the sector.
“On the 29 November we will be launching our latest Quarterly Business Report exploring how the local business community is impacted by and responding to the current climate. ”
Find out more about the GBCC 's Sustainable Business Conference here.
Find out more about the Quarterly Business Report for Q3 launch event here.