Press Release – Prime Minister’s Comments on Business – 4 April 1992

Below is the text of the Conservative Party Press Release on Mr Major’s comments on business. It was issued on Saturday 4th April 1992, reference 783/92.

BUSINESSMEN SAY TORIES ARE A GOOD INVESTMENT

“In under a week, with a Conservative Government, Britain will be able to get on with its economic recovery. Inflation is down, mortgage rates have been coming down, productivity has been going up. All that’s lacking now is the confidence our re-election will bring,” the Rt Hon John Major, Prime Minister and Leader of the Conservative Party, told a press conference at Conservative Central Office today.

“Several business surveys have already made that clear. But today we can publish the results of a new and detailed Gallup poll which makes the contrast clear. Under the Conservatives, businessmen expect falling inflation, lower interest rates and more investment. Under Labour, strikes and devaluation.

John Maples will give you the details in a moment. But let me just give you a foretaste. Amongst the senior businessmen polled:

– 90 per cent thought the Conservatives had the best long-term programme for the economy; only four per cent thought Labour had – and only two per cent thought the Liberal Democrats had.

– Over 60 per cent thought inward investment would go up under the Conservatives; and over 70 per cent thought it would go down under Labour.

– Interest rates were expected to go down under the Conservatives, but up under Labour. And the same was true of inflation.

– Over half thought Labour would be likely to have to devalue the pound.

– Two-thirds thought there’d be more strikes if Labour were elected.

– Over 90 per cent thought trade unions would have more power.

The message comes through very clearly. We can get the economy humming again. Labour would seriously damage the nation’s wealth.”