NORTHAMPTON: Travis Perkins chief executive Geoff Cooper says that increasing consumer confidence is the key to any UK economic recovery. However, he ruled out a direct injection of funds into consumers' pockets.
According to Reuters, Mr Cooper said: "We should be boosting areas of the economy which generate domestic activity and domestic production. From that point of view, construction's an ideal thing to do, investment in infrastructure, investment in housing."
Mr Cooper said he would like the autumn statement on November 29 to include the re-introduction of mortgage interest relief for first-time buyers, to stimulate the housing market, along with measures to boost the consumption of green building products.
"I would tend to the view that we shouldn't worry too much about direct action to boost consumers' wallets, I think we should do things to boost consumers' confidence because I think confidence is a big problem at the moment," said Mr Cooper.
