BCC says the suspension of tariffs is welcome news but more must be done to resolve the long-running dispute
New Director-General, Shevaun Haviland, says action is needed to boost UK trade, unlock the blockages in the skills training system and build a greener and more sustainable economy.
BCC says businesses will welcome the Agreement in Principle as a positive step forward but there is a long way to go before a free trade deal is signed.
Claire Walker, Co-Executive Director of the British Chambers of Commerce, said: “Businesses will be disappointed by this setback to the reopening in England. This delay to the removal of restrictions will come as a hammer blow to those firms who must remain closed, and to those who continue to see their ability to trade severely restricted.
The British Chambers of Commerce is delighted that its former Director General Dr Adam Marshall, has been appointed Commander of the Order of the British Empire (CBE) in the Queen’s Birthday Honours list for services to UK business.
The British Chambers of Commerce (BCC) has today (Thursday) released its latest economic forecast which predicts UK GDP growth for 2021 of 6.8%, which if realised would be the strongest outturn since official records began in 1949.1 If covid restrictions continue to be released, UK GDP growth will be strongest over Q2 2021 and Q3 2021. The UK economy is then expected to return to its pre-pandemic level in Q1 2022 with growth of 5.1% projected for next year.
UK small businesses are increasingly confident in their ability to grow and power the economic recovery, although many still have fears about the ongoing impact of Covid restrictions. This comes according to new data published today by the British Chambers of Commerce in partnership with Funding Circle, the UK’s largest small business loan platform.
New figures from the BCC show two thirds (66%) of businesses surveyed were offering remote working to employees, but there are major sectoral differences in the results.
BCC believes plans for rail reform can give industry the confidence to invest for the future and ensure that the needs of the passenger come first.
Commenting on ONS Labour Market statistics for May 2021, published today, BCC Head of Economics, Suren Thiru, said: “The decline in the unemployment rate and the rise in payroll employment is further confirmation that the UK jobs market is now more resilient to the ongoing restrictions.