BCC RESPONSE TO PM’S STATEMENT

14th October 2022

Responding to the Prime Minister’s statement this afternoon, Shevaun Haviland, Director General of the BCC, said:

“The Prime Minister was right to take some action now. We have been calling for the Government to urgently address market volatility, return stability to the economy and give business some certainty to plan. 

“Firms will always prefer a lighter tax burden, but they are most concerned about upfront costs, such as National Insurance Contributions and energy bills. 

“These are the issues that are keeping them up at night, alongside rising inflation and interest rates. 

“The BCC fully supports a strategy for growth, that lets businesses thrive and support their communities but returning stability to the economy must be the immediate priority. 

“To do this the Government must quickly set out a longer-term plan to prove it is serious about helping businesses through the difficult months ahead. Time is of the essence.”