If private investment doesn't grow, if we don't grow our capital base in the private sector, we can't become more competitive and productive down the road. We have clearly been affected by a loss of confidence in our economy. Since about 2010, in fact, we can track the data and see that, year after year, firms are sitting on cash rather than investing. So it is one of those sleeper issues but a really fundamental one for our economy over the coming generation.
On May 17th, 2016. See this statement in context.