Donohue Urges Leaders to Embrace Solutions to Spur Jobs and Growth Ahead of G8 Summit
Praises Prime Minister Cameron for Seeking Business Input on Trade, Energy, Immigration, Regulations, and Taxes
London, England-- In meetings today with British Prime Minister David Cameron and business organizations representing the G8 economies, U.S. Chamber President and CEO Thomas J. Donohue urged policy makers to embrace solutions that will spur jobs and growth, including the swift negotiation of the Transatlantic Trade and Investment Partnership (TTIP).
"The urgent priority binding all of the G8 economies together is the need for stronger economic growth and job creation," Donohue said. "Despite our challenges, we have extraordinary opportunities to create jobs and growth by expanding trade across the Atlantic and in the Asia-Pacific, developing stable and diverse supplies of energy, and ensuring a sufficient and well-trained workforce through sensible immigration policies and education reforms."
Donohue praised this year's G8 leader, British Prime Minister David Cameron, for seeking ideas from the Chamber and its counterpart organizations from each of the G8 countries well ahead of the G8 leaders' summit scheduled for next month in Northern Ireland. The business leaders spent nearly three hours at No. 10 Downing Street today meeting with Prime Minister Cameron and other officials, arranged by the Confederation of British Industries.
"During our talks, I also stressed the need to rein in excessive spending, unnecessary regulations, and abusive class action lawsuits across the G8, all of which produce uncertainty and stifle job creation," Donohue said. "Our nations also face major demographic changes, which make sensible entitlement reforms absolutely critical to future growth, fiscal stability, and economic prosperity."
Donohue also underscored to the British Prime Minister the importance of a strong European Union, including the United Kingdom.
The U.S. Chamber of Commerce is the world's largest business federation representing the interests of more than 3 million businesses of all sizes, sectors, and regions, as well as state and local chambers and industry associations.
In an era of politically challenging government cutbacks, Donohue noted Prime Minister Cameron's concern that tax systems in the United Kingdom and elsewhere reflect changes in the global economy. "Pro-growth tax reform that lowers rates, broadens the base, simplifies the system and ensures compliance is a priority in the United States as well," Donohue said.