Businesses continually operate between all four nations of the United Kingdom and an effective strategic transport network is critical to that.
Businesses continually operate between all four nations of the United Kingdom and an effective strategic transport network is critical to that.
This will be huge disappointment to the thousands of businesses that were relying on HS2 and Northern Powerhouse Rail to fire up economic regeneration through the improved capacity and connectivity of our rail network.
Commenting on the inflation statistics for October 2021, published today by the Office for National Statistics, Head of Economics at the BCC Suren Thiru, said: “The latest data confirms that inflation is on a significant upward trajectory. “October’s upturn was largely driven by rising household energy costs following the increase in Ofgem’s energy price cap, rising fuel prices and the partial reversal of the VAT reductions for hospitality and tourism which drove up restaurant and hotel prices."
Record job vacancies suggest that the chronic staff shortages encountered by businesses are intensifying and this could derail the recovery by forcing firms into a more long-lasting decline in their operating capacity.
As COP26 concludes, the BCC has highlighted how important business will be in hitting net zero targets and the need for Government to build on current plans and set out the practical steps towards a greener future.
New BCC data released today from a survey of over 1,000 businesses has thrown sharp focus on the impact of skills and commodities shortages for UK firms, with spiralling prices in evidence.
In terms of imports in goods, it is striking that non-EU imports have been higher than EU imports for nine months in a row.
The latest data confirms that the UK’s economic recovery lost momentum in the third quarter as significant staff and supply shortages limited activity.
A new survey by the British Chambers of Commerce has revealed how challenging net zero targets will be to hit unless governments work with businesses across the globe on making the transition.
While investments announced today will take time to bed in, Government should consider other action that will relieve immediate pressures, particularly on smaller businesses. This should include an urgent review of the shortage occupation list to allow for short-term visas in key sectors, and an SME energy price cap.