“If you endlessly tell companies to tighten their belts and eat nut cutlets and drink their own urine - then you will be putting a big downer on growth and enterprise," he said.
“The world pie is getting bigger: it was $32 trillion (£20 trillion) in 2000; by the time of the crash it had doubled to $62 trillion; but in spite of everything it is still growing now at $72 trillion dollars. London firms need to be able to get their share - and more - of that expanding pie. We start off with amazing advantages - the right time zone, language, creative culture and media dominance.”
Opening the event, the CBI's president Sir Roger Carr said: "we must salvage the reputation of business."
"We must demonstrate that we are a generation that is focused not just on how much money we make – but how we make money. Businesses' and individuals' standards have been variable, greed prevalent and fairness forgotten in a number of sectors – banking and media at the forefront – but others from all walks of life [have shown] signs of bad behaviour."
Full coverage of the Conference is available here.
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