THE Confederation of British Industry's (CBI) president and former BT chief, Sir Ian Vallance, has unveiled the organisation's election wishlist.

At the CBI's Tees Valley dinner, Sir Ian said the message to the major parties was simple.

He said: "We know what we want - so let us say what we want, loud and clear.

"We want stability. We want less regulation. We want fair taxation. We want world-class education and a world-class infrastructure.

"And - dare we say it - we want them now.

"Our agenda is described concisely in the CBI's Business Manifesto, the document which sets out what we would be looking for from any incoming government."

Sir Ian told the politicians competing for public support: "We need macro-economic stability with an appropriate monetary policy balance.

"The rein of regulation should be a light one. Taxation should be neither too burdensome nor too complex, and public expenditure should be properly constrained.

"Significant improvements in education and skills are required, and we need significant investment - both public and private - in infrastructure, not least transport infrastructure.

"It will take political guts, from any incoming government, to make the necessary investment, and to create the stability that business requires."

Sir Ian also spoke of the "direct action" phenomenon.

He said: "As often as not, it is business that is on the receiving end of the pressure. The action on fuel prices is just one example.

"Others include actions by environmentalists against GM crops; or animal welfare groups against life sciences; or hackers into corporate data bases; or anti-capitalist groups against the City.

"This is definitely not good news for business - particularly if politicians hesitate in the face of threats or, just as bad, seek to gain popularity by openly supporting populism."