CBI has lost any right to speak for British business
In the confusing and fast moving post-Brexit world there has rarely been a more crucial time for Britain’s private sector to be represented by a credible, respected organisation that speaks authoritatively for companies large and small in the corridors of power.
Yet remarkably for now that body does not exist. A week on from the dramatic sacking of Tony Danker over misconduct allegations, the CBI is no closer to restoring its bona fides. If anything it is further away.
Not surprisingly no politician or senior business figure will go near the CBI, forcing it to cancel its entire events schedule for the foreseeable future.
We still do not know what will eventually emerge from law firm Fox Williams’ continuing investigations or any enquiries from the City of London police. But it is hard to see an easy route back for the CBI to its former status as the premier voice of British business with the Prime Minister, Chancellor and Bank of England Governor on its collective speed dial.
The history of tarnished brands strongly suggests that it is better to accept the hopelessness of the situation and start again from scratch rather than carry on with a long slog to re-establish a lost reputation.
This is surely the right moment for British business to create a new, younger, fresher, more energetic organisation that reflects the reality of its membership.
The CBI has had a good run since 1965 but it will not be doing its 190,000 members any favours — and certainly not earning the right to collect their fees — if it tries to pretend its future is in any way business as usual.
