Walsh slams growth plan

City A.M. Reporter
BRITAIN lacks a credible plan to revive its stuttering economy and risks being left behind by fast-moving emerging markets, said the head of British Airways owner IAG, yesterday.

Willie Walsh, who is at loggerheads with the government over airport expansion, said the UK was not keeping pace with rival countries that have cut business taxes, spent more on infrastructure and improved their schools and universities to drive growth at a time of increased competition and worries about global output.

“We don’t have a single plan for growth. We have one every other week,” Walsh said in a speech to the annual conference of the British Chambers of Commerce.

“The words are always warm, but they go cold waiting for action.”

The UK’s GDP contracted by 0.2 per cent in the last quarter of 2011.