By James Arnold BBC News Online reporter at the CBI conference

Speaking to the CBI conference, Mr Blair insisted that Britain's economy and business environment were in fine shape, and insisted the government was resolved not to rock the boat.

In particular, he reiterated Britain's determination to withstand too much interference from the EU - a topic that has exercised many in the business community.

But while Mr Blair's speech avoided any sort of controversy, it still fell short of pleasing all the business leaders who heard it.

CBI 'reassured'

Officially, Mr Blair's speech went down well.

CBI director-general Digby Jones said he was "reassured" by promises to tackle sticky issues such as US trade policy and business regulation.

The CBI has a close relationship with the Blair government, and has tended to avoid direct confrontation.

It was difficult to object to the content of the speech, because there wasn't much content at all Richard Taylor, Corpra

But in recent months, as its annual conference approached, it has become increasingly vocal on the need for various reforms.

Focusing in particular on the perception of mounting red tape, Mr Jones said on Sunday that the business vote was "up for grabs".

Sleep-talking

Opinions among rank-and-file delegates were far more mixed.

Many found Mr Blair's speech relatively superficial, giving blanket assurances of commitment to reform which, many feel, have often been heard in the past.

"It was difficult to object to the content of the speech, because there wasn't much content at all," said Richard Taylor, chief executive of consultancy firm Corpra.

Another delegate, who asked not to be named, fumed that "it sounded as if he had written that speech in his sleep."

Bowled over

But Mr Blair's personal charm certainly played well with many in the audience.

Gordon Brown could be in for a rough ride on Tuesday

Peter Johnson of engineering firm Marconi said he was impressed by Mr Blair's frank manner of speaking, in particular by the direct way in which Mr Blair answered questions from the floor.

Among delegates, there was a general sense of appreciation that Mr Blair could find time for the business community, when there are many more pressing issues on his agenda.

The government is plainly keen to recapture the allegiance of business leaders: aside from Mr Blair, five other senior ministers are addressing the conference.

Waiting for Gordon

Mr Blair's speech raised questions about how the CBI will receive Chancellor Gordon Brown, who is due to address the conference on Tuesday.

Whatever Mr Blair says, I think everyone here is going to most interested in what Michael Howard has to say Simon Eccleston, Automation Industries

"There's a feeling that [Gordon Brown] may not have our best interests at heart," said one delegate.

Mr Brown has already come under fire from Pat Cox, president of the European Parliament, on the charge that he is stirring up anti-European feeling to promote his own political career.

Mr Brown is blamed by the business lobby for raising taxes, which according to some analysis are now second only to France's among major European economies.

He is also seen as the force behind heavy investments in the public sector - money which, business leaders feel, has not always been spent in the most productive fashion.

Howard's way

Even more interesting to the conference rank-and-file was the likely line taken by the Conservative Party, whose recent change of leadership is being cheered by business.

Simon Eccleston, chief executive of Midland's engineering firm Production Automation, said he was impressed by new leader Michael Howard's slimmed-down shadow cabinet, a lean structure which promises to be more business-like.

Mr Howard is scheduled to speak to the CBI conference on Tuesday.