By Marcus Leach

Simon Walker, the newly appointed Director General of the Institute of Directors (IoD), has vowed to 'campaign for growth and the competitiveness of British business'.

Mr Walker, the former Chief Executive Officer of the British Private Equity and Venture Capital Association, will take up his position at the IoD in September, at a time when the country's economy is fare from healthy.

"We’ve taken the UK’s competitiveness for granted for too long and now find ourselves with an excessively high tax burden, an overregulated labour market and creaking transport and energy infrastructures," he said.

"Only the most competitive countries can thrive in today’s global economy. Britain has lost its competitive edge and radical reform is the only route to sustainable growth, stability and long-term job and wealth creation.

Whilst in support of certain elements of the government's bid to reduce trade deficit, he believes more can be done.

“I strongly support the Government’s Spending Review and the need to reduce the deficit," he added.

"But at the same time there are many potential reforms on the supply-side of the economy which would significantly improve future growth."

Join us on
Follow @freshbusiness