Inflation Jumps as Businesses Face Mounting Costs

Inflation Jumps as Businesses Face Mounting Costs

Reacting to the latest inflation data released this morning, David Bharier, Head of Research at the British Chambers of Commerce, said: “A slight ticking-up of the CPI to 2.6% shows that inflation remains a threat to the UK economy. The Bank of England is likely to remain cautious and hold…

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Wage Pressure A Headache For Firms

Reacting to the latest ONS Labour Market data published this morning, Jane Gratton, Deputy Director Public Policy said:      “News that wages have been rising faster will be a concern for businesses as they continue to grapple with the huge increase in employment costs announced in the autumn Budget. The…

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Chancellor Meets BCC Business Council

Chancellor, Rachel Reeves, met with the British Chambers of Commerce (BCC) Business Council this morning (Wednesday 11th Dec), to discuss October’s Budget and the Government’s long-term plans to boost growth. The event was an opportunity for the senior business leaders to raise the impact of policy measures, including the rise…

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UK Must Reform For Challenging New Trade Era

A new Global Britain report from the British Chambers of Commerce is urging the Government to get the UK match fit for a more fractious era in trade. The report has 26 recommendations focussed on export growth, trade alliances, investment and economic diplomacy, regulatory reform and infrastructure. Its top asks…

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BCC Economic Forecast: Rising Business Costs to Hit Wider Economy

The British Chambers of Commerce (BCC) Quarterly Economic Forecast (QEF) has revised down growth expectations for 2024, but marginally improved GDP expectations for 2025 and 2026.     Increased government spending is likely to boost GDP, however business investment and trade are likely to suffer in 2025 – through the impact…

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Business Concerned By Employment Rights Bill

The British Chambers of Commerce has used an evidence session on the Employment Rights Bill to highlight businesses’ serious concerns about the legislation and the speed and detail of consultation. The issues included: • A lack of detailed consultation on wide ranging changes to Trade Union powers. Businesses are keen…

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Growth Slows As Businesses Face Mounting Costs

Responding to the latest GDP data published by the Office for National Statistics today, David Bharier, Head of Research at the British Chambers of Commerce said: “Today’s preliminary GDP data for Q3 at 0.1% suggests economic growth has lost some momentum in the second half of 2024. “Our latest research…

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Pension Reform Must Unlock Growth

Responding to the Chancellor’s proposals on pension reform, Shevaun Haviland, Director General at the British Chambers of Commerce, said:    “Increased investment in the UK economy is crucial if businesses are to deliver the growth, we all want to see.    “And with firms facing into a wall of fresh…

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Employment Cost Pressures Loom Large for SMEs

Reacting to the latest ONS Labour Market data published this morning, Jane Gratton, Deputy Director Public Policy said: “The small uptick in unemployment and decline in payrolled employees suggests some further loosening of the labour market. Businesses will welcome a further fall in the rate of inactivity. “Despite some easing,…

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Customs Procedures Still Holding Back UK Exports

• Major survey of UK businesses finds customs procedures remain the top barrier to exporting (cited by 45% of companies) • 40% of firms say geo-political events have impacted their business over the last year • 37% of exporters anticipate an increase export business over the next 12 months, but…

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