In one of the most remarkable periods of our political history, businesses from across the North East have been reacting to the resignation of the Prime Minister, Liz Truss.
John McCabe, chief executive, North East England Chamber of Commerce said a complete reset was needed: “Prime Minister Truss’ decision to resign her leadership of the Conservative party is the opportunity for a reset.
“After the continued instability of the last 24 hours it’s vital that integrity and unity are the watch words for the future, especially as we approach the fiscal event on the 31 October.
Read more: Liz Truss resigns LIVE
“The Conservative party wants to move quickly towards new leadership. This must be done in a calm, decisive and unified manner that puts the national interest first. For businesses, the workers and the communities they support that means three things: a clear and consistent plan on energy costs, a sensible approach to managing the causes and effects of inflation, and targeted, meaningful support for the most vulnerable.
"As we have always said the cost of living crisis and cost of doing business crisis are two sides of the same coin and both need action now.
“The country has paid a high price for the instability and uncertainty of the last six weeks. It’s vital those with the mandate to govern renew our trust and belief that they can.”
Anne Mirkovic, Government Relations Manager at Cummins, which has a huge Darlington plant, said: "Businesses across the UK will shortly be welcoming their third Prime Minister in just under three months. Political and regulatory certainty is crucial for business confidence.
"We hope that the incoming Prime Minister is appointed swiftly and with a clear mandate to ensure the delivery of net zero commitments to support innovation and growth for businesses and communities in the region."
Karl Pemberton, managing director at Active Chartered Financial Planners, told us: “The Prime Minister’s decision was inevitable and had to be made for the greater good of the country. Whether you are the head of Government or a business, it’s important for any leader to read the room, and represent the people who work for you.
"We can’t keep living with unease and uncertainty, and must now ensure we have a government who are going to steer the ship through calmer waters and deliver for the greater good.”
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