Some 450 business leaders from across the South East gathered at the CBI’s Regional Annual Dinner to learn what the government is doing to help businesses survive the current economic downturn.

Held at the Copthorne Hotel Effingham Park, near Gatwick, the event saw Baroness Shriti Vadera, Parliamentary Under-Secretary of State for Business and Competitiveness, give the keynote speech. She focussed on the issues of energy, labour market flexibility, skills, innovation and regulation – all areas where she said the Government is actively trying to ensure that Britain is in a better position than many countries to survive the financial crisis.

Shriti Vadera told the audience: “You know and face everyday the challenges of global competition unleashed by technology and the rise of emerging economies. But the South East has shown us we can compete successfully.

“You are a true engine of our economy whether illustrated by output – the largest share of any UK region outside of London; by exports – the largest share overall; by job creation – the largest rise of any region outside London; or through innovation.

“I know that many of you will be facing an uncomfortable time with a combination of sudden rises in oil and fuel prices creating pressures on margins, weakening consumer confidence or even tighter credit. However, I think it is important not to talk ourselves into thinking that all is doom and gloom.

“We are well placed to weather the storm compared to previous times and to most of our competitors. Employment is high, corporate profitability has been high, debt is relatively low and the overwhelming majority of investment is funded from retained profits.

“Every member of Government has committed to, as our highest priority in the coming year, action on the economy. We will bring forward measures to help businesses and households for the short and medium term.”

Malcolm Hyde, CBI South East Regional Director, said: “This year’s event was a great success. It provided the region’s bosses with an opportunity to get together and talk about the key issues that are affecting us all at the moment – namely the credit crunch. Baroness Vadera had some encouraging words for South East businesses.”

The dinner was sponsored by leading law firm Blake Lapthorn Tarlo Lyons; international accountants and business advisers Grant Thornton; and the world’s local bank HSBC. The South East England Development Agency (SEEDA) and Motorola Ltd also supported the event.

Robbie Glen, a former Scottish Prison Governor, provided after dinner entertainment with stories of life inside some of Scotland’s most notorious prisons. A charity draw, with prizes supplied by Continental Airlines and Motorola, raised more than £4,700 for Oxfam.