Policy & Lobbying

Reacting to the Bank of England decision to raise the base interest rate to 5%, David Bharier, Head of Research at the British Chambers of Commerce, said: “With CPI inflation stubbornly higher than forecast at 8.7%, it was expected that the Bank would increase the interest rate further. “But, while inflation is still the top concern for businesses, interest [...]

Northern Powerhouse Investment Fund II: British Business Bank invites proposals from potential fund managers to operate the new fund  A £660 million investment fund to support the growth of small and medium-sized businesses across the North of England is on course to be launched early in 2024. The Northern Powerhouse Investment Fund II is one of a series of new Nations and Regions Investment Funds [...]

British Business Bank: North West small business equity investment declined 22% in 2022 driven by a UK-wide downturn in market conditions in second half of the year. • Following a record year in 2021, the number of equity investment deals in the North West fell in 2022 by 7% to 162, with the total investment value declining 22% to [...]

The British Chambers of Commerce (BCC) upgrades its 2023 GDP forecast to 0.3%, but economic activity will remain weak throughout the year, according to the organisation’s latest Quarterly Economic Forecast. UK Economic Outlook   The UK economy remains on course to avoid a technical recession. A growth rate of 0.3% is expected for the whole of 2023, rising slightly to 0.6% in 2024, and 1.0% in 2025. [...]

Reacting to the release of the Government’s semi-conductor strategy, British Chambers of Commerce Head of Research, David Bharier, said: “Today's CPI rate of 8.7% indicates that after several false starts, the peak in inflation looks to have passed. This is further evidenced by a significant slowdown in the producer price input rate to 3.9%. Falls in gas and electricity costs provided the largest downward contribution to CPI. “But this does not mean the problems caused by inflation will suddenly go away. Prices [...]

Reacting to the release of the Government’s semi-conductor strategy, British Chambers of Commerce Head of Trade, William Bain, said: “The fact the UK now has a National Semiconductor Strategy is a welcome first step. “We have been calling for this for the past year and it has arrived not a moment too soon to provide some focus, measurable actions and [...]

Director General of the British Chambers of Commerce, Shevaun Haviland, is to urge the Government to reconnect with business as firms see no progress on the barriers to growth. She will speak out at the British Chambers of Commerce (BCC) Global Annual Conference 2023 on Wednesday May 17. In her keynote address, she will urge Government to put business [...]

Reacting to the latest ONS Labour Market data issued today, Jane Gratton, Head of People Policy at the British Chambers of Commerce, said: “Skills shortages and unfilled job vacancies are the stark reality for many businesses across all sectors and regions. “We still have more than a million job vacancies which are damaging the economy by preventing firms from fulfilling order books and taking [...]

Reacting to the Bank of England decision to raise the base interest rate to 4.5%, David Bharier, Head of Research at the British Chambers of Commerce, said: “The decision to raise the interest rate for the 12th consecutive time to the highest rate since 2008 shows the Bank is continuing to pull this lever hard as the rate of [...]