Tough Year Ahead As Interest Rate Stays High

Tough Year Ahead As Interest Rate Stays High

  Reacting to the latest Bank of England interest rate decision, David Bharier, Head of Research at the British Chambers of Commerce, said:      “While a cut in the interest rate could have provided some relief for firms ahead of Christmas, today’s decision to hold it at 5.25% was expected…

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Investment In Skills Vital As Vacancies Continue To Fall

Responding to the latest Labour Market figures from the ONS, Jane Gratton, Deputy Director of Public Policy at the British Chambers of Commerce, said: “Labour market data continues to send mixed messages, as vacancies trend downward, but unemployment and employment remain largely static and pay growth outstrips inflation. “But while…

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BCC Economic Forecast: Economic Growth Stuck In A Rut

The British Chambers of Commerce (BCC) has marginally upgraded its 2023 and 2024 GDP forecast but lowered the outlook for 2025, as economic growth for all three years flatlines.    The BCC’s Quarterly Economic Forecast, ranked joint second most accurate by the Sunday Times, predicts the UK will remain in…

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Red Tape, Regulation & Costs Holding Back Exports

• Almost half (49%) of businesses say current customs checks and declarations are a barrier to exporting. This rises to 62% for manufacturers • Taxes and duties, due to tariffs, are the next biggest stumbling block for two fifths (40%) of firms. • Regulations, such as product certification, cause problems…

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Chamber Network Reacts To Labour’s Small Business Plan

Reacting to the publication of Labour’s small business plan, Shevaun Haviland, Director General of the British Chambers of Commerce, said:     “We were pleased to welcome the Shadow Business Secretary Jonathan Reynolds to Essex this morning to launch this important plan with Chamber members.     “Our network of 53 accredited…

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Businesses Still Struggling To Understand Net-Zero Target

On the eve of the United Nations Climate Change Conference (COP 28) in Dubai, a ground-breaking survey of 1,000 businesses – mostly SMEs – by the British Chambers of Commerce Insight’s Unit shows 40% of companies don’t know any details about the UK’s net zero target. 7% are not aware…

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Autumn Statement Gives Hope To Business

Reacting to Chancellor’s Autumn Statement, Shevaun Haviland, Director General of the BCC, said: “We are pleased the Chancellor has listened to our calls to help businesses deal with the current economic challenges. Our Chamber network called on Jeremy Hunt to offer ‘much needed solutions to Britain’s investment problem’. “Today’s statement…

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South Korean Trade Negotiations Can Boost UK

  Reacting to news of plans for a fresh trade deal with South Korea, William Bain, BCC Head of Trade Policy, said:     “An improved trade deal with South Korea would be very welcome. It could deliver for the UK’s food and drink sector, manufacturing companies and services providers, as…

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Inflation Easing But Business Still Struggling To Invest

Reacting to the latest ONS inflation data, Alex Veitch, Director of Policy and Insights at the British Chambers of Commerce said:     “Today’s news that CPI eased to 4.6% in October, the lowest level in two years, is encouraging. However, the reality for consumers is that prices are still worryingly high. That…

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BCC Talks Green Transition With Maroš Šefčovič

BCC Director General, Shevaun Haviland, has met with the Executive Vice President of the EU Commission, Maroš Šefčovič, to discuss policy on the green transition and its impact upon trade.  They met at the EU Commission Headquarters, in Berlaymont, to discuss co-operation on the green transition, carbon border adjustment policies,…

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