Renowned financial pundit, Justin Urquhart Stewart, delivered a positive message to the West’s businesses on a recent visit to the region. According to the TV favourite, the economy is damaged but not doomed, and the outlook for Somerset companies is looking up.
Leading Somerset firm of Chartered Accountants and Financial Planners, Albert Goodman, hosted the seminar, which was held on Thursday 21 November at the Somerset County Cricket Club in Taunton. Over 120 of the region’s business people attended the event, entitled, Green Shoots or Advanced Mould?
jus211113 smallUrquhart Stewart discussed the current state of “UK PLC” and the importance to our economy of business and consumer confidence to encourage spending, and in turn reduce our national deficit.
Urquhart Stewart commented, “The UK economy is steadily improving and regional companies are doing really well. It’s worth bearing in mind that more people are employed now than 10 years ago and half of the country’s SMEs are looking to recruit more staff in 2014. There were 420,000 new businesses started this year, compared to 175,000 30 years ago – we are more entrepreneurial now than ever.
“We need to harness that entrepreneurial spirit and make it easy for businesses to do well, and give confidence to consumers to encourage them to spend. I would bring back peer to peer lending, where local investors provide investment for local companies and I would get rid of stamp duty, which is a regressive tax. We should build more affordable houses because for every £1 spent on housing, another £2.80 is spent in the wider economy as a result. These are simple strategies, some of which have been done before and don’t actually cost a great deal. Britain is not doomed, but Britain is damaged and there are actions that can be taken to rectify this.”
Urquhart Stewart makes regular appearances on the BBC, was judged the nation’s favourite financial personality and is one of the most recognisable and reliable financial commentators today. He has 20 years experience following the ups and downs of the markets and his assessments, predictions and witty observations are trusted by professional and amateur investors alike.