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

The Chancellor's Spring Statement, delivered today, was not a Budget - there were no major new tax or spending announcements. Instead, it offered an updated set of economic forecasts from the Office for Budget Responsibility (OBR) and a clear message of stability and security from the Chancellor. For businesses in Bedfordshire, the picture is one of modest near-term challenges, cautious longer-term improvement, and significant uncertainty that has yet to be fully accounted for

Chancellor Rachel Reeves’ Spring Statement, unveiled on 26th March, is a challenging one for businesses across the UK – with some redeeming features.

The overall impression is one of an economy failing to grow and perform, and business – the motor of that performance - being given precious few concessions to fuel it.

As Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), put it in their recent announcement, it’s as if we’re seeing firms “struggle to bloom”. The will is there but the way is lacking.

The British Chambers of Commerce (BCC) is urging the Chancellor to take bold and decisive action in his Spring Statement to tackle the escalating cost of doing business crisis.

The British Chambers of Commerce (BCC) has today (Monday) upgraded its growth expectations for the UK economy, raising its forecast for GDP from 1.1% to 1.4% in 2018 and from 1.3% to 1.5% for 2019, and its first forecasts for 2020 is for 1.6% growth.

by James Pinchbeck, Marketing Partner Streets Chartered Accountants.

The Chancellor has delivered his first Spring Statement, which did away with the typical announcements around tax changes and public sector cuts or increased spending. 

Commenting on the Spring Statement, delivered today by the Chancellor of the Exchequer, Adam Marshall, Director General of the British Chambers of Commerce (BCC), said: