Latest news updates: Automotive supply chain problems hit industrial group Melrose
The CBI employers’ organisation says the UK has one of the worst investment climates among advanced economies, hampering productivity growth as wage rises stoke inflation fears.
The UK is facing a number of interlocking crises, including labour shortages, high gas prices and supply chain disruptions that have left supermarket shelves bare and fuel pumps dry.
“If wages go up that’s a good thing and it forces businesses to think about capital and investment,” Tony Danker, CBI director-general, told BBC Radio 4’s Today programme on Tuesday.
“We’ve got the worst investment climate of countries in the OECD,” Danker said. “I hope what the chancellor is going to do is figure out how we can get investment and productivity growth in Britain, which we’ve not had for a decade.”
He was speaking as the ruling Conservative party meets for its annual party conference in…