Latest updates and stories from Bedfordshire Chamber of Commerce and its Members

Q1 GDP figures show UK stuck in global growth slow lane

Written by Paula Devine | 30 Apr 2018

Commenting on the GDP figures for Q1 2018, released  by the ONS, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said:

“Sadly, the latest GDP figures confirm what we have been saying for some time: the UK is stuck in the global growth slow lane, while other countries race ahead.

“Westminster politicians need to start focusing their attention on a much stronger, more proactive drive to boost growth and investment. While the ‘Beast from the East’ clearly had an impact in the first quarter, the underlying slow-growth trend is real cause for concern.

“Instead of a constant focus on Brexit, business seeks vision and a clear direction from government on UK economic growth. Businesses across the country want the Prime Minister to make a ‘Mansion House Speech’ on the domestic business environment, and what her government will do to improve it.

“All the firms I speak to want to see far more focus on fixing the fundamentals here at home. No country with faltering infrastructure, a training system in chaos and patchy digital connectivity is going to win in the global growth sweepstakes. A back-to-basics approach that delivers concrete improvements would do more to boost productivity and competitiveness than flashy new initiatives, and matters as much as any eventual Brexit deal.”

Topics: BCC, brexit, British Chambers of Commerce, Chamber News, economy, GDP

Paula Devine

Written by Paula Devine

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