The British Chambers of Commerce (BCC) has outlined a range of measures designed to help boost the UK economy in its Business Manifesto sent to Prime Minister Rishi Sunak.
In its manifesto, the business group highlighted data from its latest Quarterly Economic Survey which showed an ‘alarming drop in business confidence and conditions’ and key economic indicators falling back to COVID crisis levels.
The BCC has called on the government to take ‘urgent action’ on a range of issues. It has recommended:
- prioritising long-term growth by financing public projects
- providing certainty on how the energy support package will work from April 2023 in order to allow businesses to plan for the future
- promoting export-led growth and removing barriers to trade
- offering tax breaks to businesses that invest in training and upskilling.
Presenting the BCC Business Manifesto, Shevaun Haviland, Director General of the BCC, said: ‘Our research indicates business confidence has plummeted to alarmingly low levels, not seen since the height of the pandemic. The political and economic uncertainty over the past few months and the turbulent financial conditions following the government’s Mini Budget have damaged this even further.
‘We are now on borrowed time, and the new Prime Minister must step up to the plate. Businesses can’t afford to see the government make any knee-jerk decisions that damage long-term growth.’