The CBI has launched a new manifesto for Government demanding the next Prime Minister acts quickly to get the UK economy back on track.

The CBI’s director general Carolyn Fairbairn, launched the Business Manifesto on Monday, calling on Theresa May’s successor – set to be appointed this week – to set a clear vision for the economy against a backdrop of “stumbling growth and weak business confidence”.

She said that economic progress in the UK has stalled due to Brexit and demanded a new long-term vision that would help to drive investment and demonstrate to the world that the UK “remains a trusted place to do business”.

The manifesto makes scores of demands focusing on everything from infrastructure, immigration, trade and skills to innovation, public services, employee engagement and how the Government intends to meet its 2050 Net Zero target.

The CBI wants to see a National Infrastructure Strategy developed and for the Government to commit to major projects including HS2 and Northern Powerhouse Rail.

It wants the Government to fund apprenticeships for non-levy paying small and medium sized firms, and to reduce the £30,000 salary threshold wage cap for EU workers post-Brexit and to exempt industries with skill and labour shortages.

It calls for cross-party support for the UK’s Industrial Strategy, and for local industrial strategies across England to be developed by early 2020, with measures in place to aid their delivery.

It also demands a complete strategy and investment plan by the end of 2019 to improve energy efficiency and for onshore wind to compete in low-carbon energy auctions, to help meet the Government’s target to cut all CO2 emissions in just over 30 years’ time.

Ms Fairburn said: “Early signals matter. The UK is a fantastic place to do business, but we must be honest – the reputation of our country has taken a dent in recent times.

“Our new Prime Minister has a real chance to inject a new lease of life into the UK economy and show the world we are open for investment.

“He should take a transformative approach to making the country more competitive, innovative and inclusive. We urge the next Prime Minister to act fast to get the economy back on track.”

“That means no equivocation on essential national infrastructure. It means an immigration system that is controlled but also open and welcoming. And it means fixing policy that isn’t working, from business rates to the apprenticeship levy.”

The manifesto also calls for the development of the Strategic Trade Advisory Group and Expert Trade Advisory Groups to support trade policy priorities post-Brexit, and for it to work with global partners to champion free and fair trade.

It wants the Government to ensure the Low Pay Commission maintains its independence to judge the pace of wage increases and resist “politically-imposed targets”, along with a rethink on the role and form of GCSEs and a 10-year funding commitment to deliver T-Levels.

It also wants UK research and development expenditure to reach three per cent of GDP in the long-term and more funding to support firms at the pre-commercialised stage of R&D included in the forthcoming Government Spending Review.

Ms Fairburn added: “We need a long-term, compelling vision for our future – a path to building a Britain that is not only more prosperous, but fairer, grounded in the new Industrial Strategy.

“Together, business and Government can take on the big challenges the country must tackle.

The CBI represents 190,000 businesses across the UK.

Either Boris Johnson or Jeremy Hunt will be named as the new UK Prime Minister on Tuesday.