The leader of the Liberal Democrats last week warned that businesses need greater protection against the ‘dangerous world’ of cyber crime in the wake of the
Jaguar Land ROver (JLR) crisis. Sir Ed Davey made the comments during a wide-ranging discussion with West Midlands business leaders, hosted by
Greater Birmingham Chambers of Commerce.
During the event - which took place at the Birmingham offices of legal and professional services group
Ampa - Sir Ed addressed topics including the UK’s current economic strengths and challenges, devolution, international trade and investment in skills and further education. The event was supported by
Richardson, the Oldbury-headquartered growth capital and real estate investment firm.
On the JLR cyber-attack, which has had a significant knock-on effect for SMEs across the West Midlands, Sir Ed said: “The appalling cyber-attack on JLR has caused so much damage and we have to help our businesses - whether they are Co-op, Marks & Spencer, JLR, or many others - to protect themselves from this dangerous world. We have the technology — we are actually world leaders in cybersecurity. It is fantastic — but are we spreading that out? Is Government helping businesses to protect themselves - not just the big ones, but down the supply chain? No, it hasn’t done that.”
With council elections on the horizon in Birmingham next May, Sir Ed said the Liberal Democrats “have some serious ideas” for the city. “I am excited about our ideas. I think there is a historic opportunity for my party.”
Economic coalition of the willingTalking at length about international trade, including the UK’s engagement with the European Union (EU) and the policies of US president Donald Trump, he said: “We believe Britain is at its best when it is looking out and it is proud. We are advocating an early reintroduction of a customs union between the UK and the EU. It is the best way of getting rid of all the red tape, cost and delay to boost growth. But we wouldn't end just at the EU. We need what I have called an economic coalition of the willing, which is Europe, our Commonwealth allies, Canada, Australia, India and more broadly.”
He continued “If we had a really ambitious approach to be the champions of free trade and be prepared to stand up to the current incumbent of the White House, I think that would be fantastic for our economy in the short-term and our country's standing in the world in the longer-term.”
Asked about creating the right conditions for entrepreneurs to thrive, Sir Ed added: “I am a strong believer in entrepreneurs and allowing people to grow their businesses, to take their ideas to the next stage. I think the UK is quite a good place for entrepreneurs, but we have a problem with some start-up and scale-up capital -— it is not always available.
Sir Ed concluded: “When you look at some of the surveys that we have done around the West Midlands, certainly a lot of small businesses say they can’t grow as entrepreneurs because they can”t access capital. That is why, when he was Secretary of State for Business in 2014, (former Lib Dems leader) Vince Cable introduced the
British Business Bank, as a way of trying to fill that gap.”