Government must do all it can to safeguard security of supply and ensure that customers and suppliers have access to the support they need to weather this difficult period.
Government must do all it can to safeguard security of supply and ensure that customers and suppliers have access to the support they need to weather this difficult period.
UK business investment is expected to decline this year due to damage to firms’ finances from the pandemic, a more onerous tax regime and concerns over possible future covid restrictions
Businesses strongly oppose a rise in national insurance contributions as it will be a drag anchor on jobs growth at an absolutely crucial time.
Commenting on ONS Labour Market statistics for August 2021 published today, BCC Head of Economics, Suren Thiru, said: “The latest figures confirm that the UK jobs market is recovering strongly as the boost to demand from the easing of restrictions helped drive higher payroll employment in July. "
The increase in output in the second quarter largely reflected a striking rise in household spending; as the easing of restrictions helped consumers spend some of their ‘unanticipated’ savings accumulated during lockdowns, boosting output from consumer facing services firms.
Latest figures confirm the rebound in economic activity continued into May, but the sharp slowdown in growth suggests that the recovery is losing a little steam.
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.
BCC says Queen's Speech offers opportunity to boost the economy but delivery will be key to real change.
The British Chambers of Commerce today announced the publication of new research which shows a rising number of firms expecting their prices to increase significantly in the coming months. The figures also document growing concern among businesses over rising inflation. The data, drawn from responses from more than 5,800 firms, shows 2 in 5 businesses (38%) in Q1 2021 expect to see their prices increase in the next three months, an increase from 25% in the previous quarter. In contrast, only 5% of firms are expecting a decrease.
BCC says data for February 2021 shows modest growth and a further boost is likely as economy reopens but warns that continued improvement is not guaranteed.
