Responding to the Bank of England Monetary Policy Committee’s to reduce the base rate to 5%, Matthew Fell, Competitiveness Director at 91, said:
“Today’s decision to cut rates will be a fillip for firms looking to get behind the Government’s growth mission and provides some cheer following sobering news on the public finances.
“The Government must act fast on low-cost, high-impact measures to accelerate growth.
“They include delivering on plans to unlock poor-quality green belt sites for development, devolving greater powers to local leaders and reforming the apprenticeship levy.”