Mike Damms, East Lancashire’s CEO, attended the meeting with David Cameron at the Institute of Directors today.

The Prime Minister’s speech has attracted much media attention, especially with the topicality of the perils facing the euro. He made it very clear that the role of his Government was to shelter the UK economy from the prospective storms, and that he would be talking to his European counterparts and financial heads, including the new French premier this very afternoon.

He also made it clear that ‘austerity’ would remain but it was not of itself an alternative to growth. He also defended the Queen’s Speech, and some other Government statements, which has been criticised in some quarters as not being business friendly enough. As he pointed out, you can’t simply legislate for growth to happen.

 This leads on to the way that you as individual businesses can help.

The PM went on to robustly defend the Government’s record in responding to positive proposals from business. He cited infrastructure investment, simplification of taxes and reduction of corporation tax, expansion of the number of apprentices, reform of benefits…. but he asked the audience to keep putting forward proposals.

He was also very positive about manufacturing and was, of course, able to refer to the news for GM and the automotive sector.

One detailed example that he expressed great interest in was the idea of child care being tax-allowable for fledgling entrepreneurs, especially women.

So please do let us know at the Chamber if you have ideas, no matter how grand or small, that you believe could help mobilise the economy and increase employment: we will pass them on. Contact l.gaskell@chamberelancs.co.uk