Commenting on GDP figures for Q1 2021, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said: “While the UK economy contracted in the first quarter, the downbeat headline figure masks a renewed momentum through the quarter from January’s drop in output to an exceptionally strong March outturn as lockdown measures started to ease.
BCC says Queen's Speech offers opportunity to boost the economy but delivery will be key to real change.
Responding to the roadmap announcement, British Chambers of Commerce Co-Executive Director, Claire Walker, said: “Businesses across the country will be relieved to hear that they will be able to re-open or restart more of their operations on May 17th."
Responding to the announcement of the ‘green list’ for international travel, British Chambers of Commerce Co-Executive Director Hannah Essex said: “Businesses will welcome this announcement as a first step on the road to a broader resumption of international travel over the coming months. Many firms will be hoping that this soon leads to a further expansion of the green list."
Report calls for a root and branch reform of the UK’s training system to help businesses access the skills they need to boost productivity.
The British Chambers of Commerce today released its Quarterly Recruitment Outlook for Q1 2021. The new figures show continued weakness in the job market in Q1, with 60% of the nearly 6000 businesses surveyed saying they had not attempted to recruit during the quarter. However, the percentage of firms expecting their workforce to grow in the next three months rose from 19% in Q4 2020 to 27% in Q1, the highest percentage since Q1 2020 and a return to pre-pandemic levels more broadly.
BCC says while it is a relief that the ratification of the TCA has gone smoothly, it is now vital that both the UK and EU work together to alleviate the significant disruption and difficulty which many firms continue to report.
Report finds that new ways of working introduced during the pandemic offer opportunities for both employers and staff, highlights how supporting employees’ mental wellbeing will become increasingly important, and says equipping school-leavers with skills to deal with new working arrangements will be vital.
BCC says government proposals on Flexi-apprenticeships and a skills accelerator programme are positive moves
Commenting on ONS Labour Market statistics for April 2021 published today, BCC Head of Economics, Suren Thiru, said: "The latest data confirms that the UK labour market remains subdued. While there was a marginal fall in the unemployment rate, the squeeze on activity from ongoing restrictions helped drive a decline in payroll employment in March."