Download October 2018's Quarterly Economic Survey
The results of the British Chambers of Commerce's Quarterly Economic Survey are now out. Having recently spoken at Liverpool Chamber of Commerce's Economic Business Breakfast, on 12th October 2018, Suren Thuri, BCCs Head of Economics commented:
- The services sector is driving the economy
- However, the services sector continues to struggle to recruit skilled workers
- The manufacturing sector expect prices to continue to rise, citing the increasing cost of raw materials as a driver
- Having applied the R-A-G rating to 24 key issues affecting businesses in the run up to Brexit, only one key point is 'Green', and that relates to import VAT. Download the Business Brexit Risk Register here.
- BCC predict that household budgets will be squeezed further - not good news for the already waning High Street
- Anticipate interest rates will continue to rise
- Even in the event of a good Brexit deal, there are still issues closer to home that the Government must be addressing, which should be addressed in the Autumn 2018 Budget
- The BCC issue a recommendation to businesses to conduct a Brexit Audit
- Making Tax Digital must also be a big consideration for businesses
- British Chambers of Commerce will be calling upon the Government to to implement a 2 year freeze on business rates in an attempt to prop up the ailing High Street
- There is optimism about a successful withdrawal treaty being agreed.
The latest QES Report is available to download from this page.
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