UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks - including Russia’s invasion of Ukraine.
Commenting on the inflation statistics for January 2022, published today by the Office for National Statistics, Head of Economics at the BCC Suren?Thiru, said:
On the second anniversary of Brexit, and with huge lorry queues being reported at Dover last week, the BCC is calling for urgent action to improve trade with Europe.
In this first episode of this newly launched South Yorkshire Policypod, we’re focussing on skills and education: what does our economy need and how can we make better use of the insights of employers?
In a joint statement by the CEOs of Doncaster, Sheffield and Barnsley & Rotherham Chambers of Commerce, they said:
The BCC’s Quarterly Economic Survey (QES) – the UK’s largest independent survey of business sentiment and a leading indicator of UK GDP growth – has shown the recovery stalled in the fourth quarter, with firms facing unprecedented inflationary pressures.
Commenting on today’s interest rate decision by the Bank of England’s Monetary Policy Committee, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said:
Commenting on the inflation statistics for November 2021, published today by the Office for National Statistics, Head of Economics at the BCC Suren Thiru, said:
The UK economy will grow at a slower pace than expected with trade set to lag significantly behind the wider recovery, according to the British Chambers of Commerce’s (BCC) latest economic forecast.