The British Chambers of Commerce (BCC) has today slightly downgraded its growth expectations for the UK economy, forecasting GDP growth for 2018 at 1.3% (from 1.4%)
Ahead of the Chancellor’s Spring Budget on March 8, the British Chambers of Commerce (BCC) is urging the government to take action on delivering real reform to the business rates system.
The British Chambers of Commerce has downgraded its UK GDP growth forecast for 2015 from 2.7% to 2.3%, following weaker than expected growth at the start of the year. However, the BCC believes the slowdown is temporary and the prospects over the medium term remain steady, with GDP growth predicted to be 2.6% in 2016 and 2017.
Commenting on the speech by the Labour Party leader, the Rt Hon Ed Miliband MP, John Longworth, Director General of the British Chambers of Commerce (BCC) said: