CBI, FPB and BCC announce they are pleased with outcome of election and hope the new government is able to 'put aside their differences' in order to fix the economy.
Following the announcement last night that the Conservatives would form a coalition government with the Liberal Democrats, led by David Cameron as Prime Minister, three leading business groups released statements welcoming the move.

The British Chambers of Commerce (BCC) director general David Frost said: "We look forward to working with the new coalition Government during a critical time for the economy. We will judge the new administration on the basis of what it does to promote business recovery across the UK. The BCC wants to see the delivery of a clear and achievable plan for business over the first ninety days of a new administration - a plan that puts business growth at the centre stage."

Adding that the next 90 days are "crucial for recovery", Mr Frost continued: "Fixing the public finances must be at the top of the agenda. The Conservative-led coalition must be absolutely clear about where the spending cuts will fall, and about the need to curb relentless growth in the size and cost of the public sector. They must also follow through on their promise to roll back the planned employer National Insurance rise in any emergency budget."

The Confederation of British Industry (CBI) echoed the sentiments of the BCC, described the coalition as "welcome news" and stressed its desire for a stable government that will make the restoration of the UK's economy its priority.

CBI director general Richard Lambert commented: "Business wants to see a stable government with the authority to take the tough decisions that will be required to keep the economic recovery on track and to get a grip on the fiscal deficit. This coalition should have the votes and the mandate to get on with the job."

He added: "In the past few days, leaders of all three of the main political parties have emphasised their commitment to restoring fiscal stability in the national interest. That must be their overriding priority in the months to come."

The Forum of Private Business (FPB) said it had given news of the planned coalition "a cautious welcome" and said it hoped members of the new government could put aside their political differences for the good of the country.

FPB chief executive Phil Orford said: "Smaller firms urgently need some degree of certainty so they can begin to plan for the future. Hopefully Mr Cameron's appointment will herald the beginning of a workable government, which will ensure economic stability and give smaller and give smaller firms the confidence to aspire and grow."

Mr Orford concluded: "I would jut like to reiterate the Forum's previous calls for politicians of all political persuasions to show responsibility and put aside their differences in order to avoid pushing the UK into further economic turmoil. It is imperative that our MPs put aside point-scoring and work together to make Britain a stable and prosperous place to run a business."