Business Matters

Rupert Soames speaks to Felicity Hannah for his final interview before he stands down as Chair of the Confederation of British Industry (CBI). He describes his surprise at the limited understanding many ministers and policymakers have of the realities faced by business leaders, particularly when it comes to employment, investment, and economic growth. With the Employment Rights Bills ping-ponging its way between the House of Lords and the House of Commons, Soames expresses concern over measures that have increased the cost and risk of employing people, particularly younger workers. He points to the Bill as a source of uncertainty, saying that while compromise was reached on some aspects, the overall effect may be to discourage job creation and make it harder for those with gaps in their employment history to find work, especially post-covid. Brexit and its economic consequences are explored with Soames describing the outcome as “really, really, really bad" for the UK’s economic prospects. However, he acknowle