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CBI boss: 5 things you need to know about the economy

The key points from our interview with John Cridland, head of the UK's foremost business lobby group

By Jay Elwes  

Read the full transcript of our interview here

1) Some of the old ways of measuring an economy need revision

“I have every sympathy with the ONS: they are measuring a rather different economy. They are not alone in having had challenges. The Bank of England had challenges with what would happen with inflation because the old model concerned domestic generated inflation, and we’ve had globally generated inflation. Business investment figures tried to capture a different form of business model. In 2008/9, businesses didn’t do in Britain what we’ve done in every other recession. We did not cut and slash,…

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