Economy remains on shaky ground

Jul 13, 2023

Reacting to the latest GDP data from the ONS, David Bharier, Head of Research at the BCC, said: 

“Today’s GDP figure showing 0% growth in the three months to May provides further evidence of the precarious state of the UK economy. While businesses have been incredibly resilient in stomaching multiple waves of economic crises, our latest Quarterly Economic Survey shows that most firms are still not reporting improved business conditions. 

“Positively, slightly fewer businesses report inflationary pressures, but interest rates have grown as a concern for businesses. We are starting to see more businesses report rising borrowing costs, but we are yet to understand the full impact of rising interest rates.  

“Businesses are operating in a climate with a high degree of uncertainty and government and Bank of England policy both need to be very responsive to developments.” 

Mid Yorkshire Chamber reacts to Chancellor’s Spring Budget

Mid Yorkshire Chamber reacts to Chancellor’s Spring Budget

Responding to chancellor Jeremy Hunt’s Spring Budget, the managing director of the Mid Yorkshire Chamber of Commerce, Martin Hathaway, said: “What is very welcome in today’s budget is the VAT threshold increase from £85,000 to £90,000. This change will exempt...

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