The Government needs to fix the people problem in the economy if it is to have any hope of boosting growth. But despite the latest fall of 47,000 in overall vacancies, the total number is still well over 1m.
The Government needs to fix the people problem in the economy if it is to have any hope of boosting growth. But despite the latest fall of 47,000 in overall vacancies, the total number is still well over 1m.
This latest ONS data provides further evidence the UK is finding it tough to generate any sustained rise in exports. The overall picture for the last two years is broadly static, although this masks a better position on services than with goods.
Reacting to the ONS GDP figures for February, David Bharier, Head of Research at the BCC, said: “Although today's GDP figures indicate the UK economy continues to technically avoid a recession, it’s now clear we are stuck in a prolonged period of almost no growth. "
“The British Chambers of Commerce is a big believer in the shift to a digital trade system. If it is done properly then smaller firms will see benefits when it comes to importing goods into Great Britain."
· Over half (52%) of UK firms believe their business turnover will increase over the next 12 months, up from 44% in Q4 2022. · However, only one in three (34%) firms experienced an increase in sales over the past three months. · Almost half (47%) of hospitality businesses reported a drop in cashflow in the last quarter.
The addition of the UK to this trading bloc takes it to 12 countries which account for 15% of global economic output. It will open up new opportunities for business in both inward and external investment with the other 11 countries. There are not many multi-national trade agreements like this one, so it is an interesting new prospect.
As businesses face an 85% decrease in energy support from tomorrow, the British Chambers of Commerce (BCC) has highlighted the need for an energy support contingency plan, and is calling for increased, targeted help for firms who desperately need it.
The government has grasped the scale of the climate challenge with a wide-ranging plan to boost green energy production. But there is a gap around business energy use. To meet the UK’s ambitious 15% energy efficiency target, firms will need help to install vital measures such as insulation, energy management systems and renewables.
Factors such as the availability of quality public infrastructure and access to skilled labour are entrenching a rural-urban divide among UK SMEs.
The joint EU and UK decision to give formal effect to the Windsor agreement is another important step in improving trading conditions between Great Britain and Northern Ireland.