Turner said the focus needed to be on sectors of the economy that have been neglected, which include investment and export.
He added that manufacturing was critical, despite being under-recognised. By giving a boost to manufacturing, which is now technology-based, the UK could be the strongest economy in Europe in five-to-10 years, he added.
Engineering UK event director Jeremy Buckle agreed. "There is a huge skills gap in the manufacturing sector. We are in a brave new world when it comes to events," he said.
Turner added that, despite planned govt spending cuts, by 2015 the public sector would still be around 40 per cent of GDP.
Meetings Industry Forum took place last week at Hilton London, Tower Bridge.