RESPONDING TO THE BANK OF ENGLAND INTEREST RATE INCREASE, MUNIYA BARUA, DEPUTY CHIEF EXECUTIVE AT BUSINESSLDN, SAID:
“With the economy flatlining and more train strikes on the way, many firms will feel higher debt financing costs biting sharply into their balance sheets.
“The Government should act urgently to boost growth by reintroducing VAT-free shopping to boost international tourism. Not only would this help hard-pressed hospitality and retail firms, it would deliver an extra £350million in tax revenues for the Exchequer every year.â€