Commenting on the GDP figures for November published today by the ONS, Muniya Barua, Deputy Chief Executive of 91¶¶Òù, said:
“Despite a modest bounce in growth in November, the reality for many of the capital’s firms on the ground is tough going.
“With energy support to businesses slashed, inflation and interest rates rising, plus the impact of constant strikes and skills shortages, firms are in for a bumpy period ahead.
“The Government must act swiftly to avoid a prolonged downturn. This includes redoubling efforts to resolve industrial action, maintaining targeted energy support to businesses and reforming transport fares.
“Other low-cost growth boosters include reforming the apprenticeship levy to encourage greater take up and further devolution of regional pots of government funding so spending can be targeted where needed locally.â€