Weak GDP Growth Forecast for 2020 as Business Investment Falls
UK economic growth in 2020 is forecast to slow to its weakest rate since the financial crisis as higher government spending struggles to offset falling business investment, weakening net trade and sluggish consumer spending. GDP growth is forecast to slow from 1.3% for this year to 1.0% in 2020 - the weakest outturn since 2009 – according to the latest economic forecast from British Chambers of Commerce (BCC). Although this is a slight upgrade on BCC’s previous forecast of 0.8%, it indicates that by
British Firms Hit by Power Cuts Even as Electricity Demand Set to Rise
Businesses are hampered by an unreliable electricity supply according to a survey of more than 1,000 business leaders published today by British Chambers of Commerce and Drax. One third (33 per cent) of UK businesses have experienced electricity outages in past twelve months, according to a major new study of the business community’s views on infrastructure and risk. With demands on energy set to intensify in the years ahead – more than one-quarter (27 per cent) expect their dependence on
UK Road and Rail Networks not Meeting Business Needs
Business satisfaction rates fall, underlining need for parties to make good on infrastructure promises UK businesses are even less satisfied with UK infrastructure than they were a year ago, according to research published today by the British Chambers of Commerce (BCC) and Stagecoach. The survey of 1,200 business leaders finds that only around one third (35%) of UK businesses feel that the UK road network is meeting their needs when reaching customers, suppliers, and employees. This is a
British Chambers of Commerce Response to Conservative Party Manifesto
In his initial response to the publication of the Conservative Party manifesto, BCC Director General, Dr Adam Marshall said: “While the Conservative manifesto strikes some of the right notes, business communities across the UK will be looking to see more substantial measures to boost growth, enterprise and investment from the Prime Minister and his party if they form the next government.” On Brexit, Marshall said: “There’s a big difference between ‘getting Brexit done’ and doing it right.
BCC/Totaljobs: Skills shortages impacting businesses as labour market remains buoyant
The percentage of UK firms facing recruitment difficulties has returned to previous highs, while one in four businesses expect to increase headcount according to the UK’s largest survey of employers. Over half (54%) of British businesses recruited in the last three months, with nearly three quarters reporting recruitment difficulties, as skills shortages persist. · One in four (27%) British businesses plan to increase their headcount in the next quarter (Q4 2019), with two thirds believing
Initial BCC response to Labour Party manifesto
Responding to the Labour Party manifesto, Director-General Dr Adam Marshall said: “No government can deliver the prosperity that people and public services depend on, or achieve net-zero, without a true partnership with business. When business thrives, people and communities thrive too. “Millions of businesspeople care deeply about their employees and their communities and they need the next government to take decisive action to restore business confidence and unleash business investment
.jpg)
Initial BCC Response to Liberal Democrat Manifesto
Responding to proposals on business rates, training and devolution in the Liberal Democrat manifesto, Co-Executive Director Hannah Essex said: “The UK’s unfair business rates system - which hits firms hard before they turn over a single pound – is pushing many firms close to the edge, stalling investment and holding back growth. Any moves to reduce the burden would be welcome and should be shaped by businesses to deliver a fundamental reduction in their costs. All parties should commit to a
A Majority of UK Manufacturing Exporters are Reporting a Stark Worsening in Sales and Orders
A majority of UK manufacturing exporters are reporting a stark worsening in sales and orders, with indicators showing a substantial drop compared to 2017 and 2018 levels. The Quarterly International Trade Outlook for Q3 2019, released by British Chambers of Commerce and DHL today, reveals that indicators for exporting manufacturers in Q3 2019 have undergone large declines, with several key indicators for orders and cashflow now in negative territory. The percentage balance of exporting manufacturers
Devon & Plymouth Chamber of Commerce and Plymouth City Council Welcome VIP Visitor from Hamburg
Devon & Plymouth Chamber of Commerce, in partnership with Plymouth City Council, successfully hosted Hamburg’s Director of International Investments Stefan Matz in the City of Plymouth. Mr Matz was welcomed at the University of Plymouth On Tuesday 13th November by Chamber CEO Stuart Elford, Inward Investment and Enterprise Manager at Plymouth City Council Nina Sarlaka, and University Research and Innovation Business Engagement Manager Rich Adams. The group first visited the Marine Building where they
Parties Must Reignite Business Confidence and Investment at this Election, says BCC
Avoiding a no-deal Brexit and delivering an urgent confidence boost through action on infrastructure, immigration, skills and business costs must be at the forefront of the next government’s agenda, says the British Chambers of Commerce. 2020 and beyond: business priorities for the next UK government – compiled with input from the 53 accredited Chambers of Commerce across the UK and the BCC’s growing global network – sets out key priorities that would enable businesses of all sizes to reignite the
.jpg)
BCC Comments on Today’s GDP Statistics
Commenting on the GDP statistics for Q3 2019, published today by the ONS, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said: “While there was welcome confirmation that the UK avoided recession in the third quarter, the stronger headline figure masks an alarming loss of momentum through the quarter from a relatively strong July outturn and therefore does little to suggest any meaningful improvement in UK’s underlying growth trajectory. “The dominant services sector was
Devon & Plymouth Chamber of Commerce and Partner Organisations to Host Hustings Event
The upcoming general election is being billed as the most important for a generation. Devon & Plymouth Chamber of Commerce along with its partner organisations are hosting a hustings event to hear from all the main parliamentary parties. This election hustings is a cross constituency event for Devon politicians from all parties to discuss Devon and Plymouth business issues, in the lead-up to the December General Election. This special business hustings event is a partnership event between the Chamber
BCC Comment on Chancellor’s Speech on Infrastructure Investment
Commenting on today’s speech on infrastructure investment today, Adam Marshall, Director-General at the British Chambers of Commerce said: “For many years, the BCC has campaigned for the UK Government to treat borrowing for infrastructure investment differently to borrowing for current spending. “The UK’s future business success requires a big increase in what we spend on transport, broadband, energy, housing, schools and hospitals. At the same time, we will have to de-carbonise some of that
BCC Comments on ONS Gender Pay Gap Data
Responding to ONS gender pay gap data published today, Jane Gratton, Head of People Policy at the British Chambers of Commerce, said: “It’s right that more women in senior roles are being fairly rewarded, but we need more action to ensure women of all ages receive fair and equal pay at every level. “Employers must identify and remove all barriers to training and career development opportunities to support women into senior level positions and enable parents and carers to thrive in skilled roles. “As
BCC Comments on Proposed Brexit Agreement
Commenting on the announcement that the UK and EU negotiators have come to an agreement, Dr Adam Marshall of the British Chambers of Commerce (BCC), said: “Business communities will recognise the huge efforts by UK and EU negotiators to reach an agreement. Understandably, many businesses will reserve judgment until they see the detail. “Businesses need a chance to analyse precisely what the terms of this agreement would mean for all aspects of their operations. This is particularly true for
.jpg)
BCC Comments on the Queen’s Speech
Commenting on the Queen’s Speech opening a new session of Parliament, Dr Adam Marshall, Director General of the British Chambers of Commerce said: “Our message to government is simple: put the economy at the forefront of your agenda. These are unnerving times for businesses facing Brexit uncertainty, global headwinds and a UK economy in stasis. The government’s economic plan must be grounded in reality, taking into account the conditions facing firms and the need to minimise further disruption. “Amidst
BCC responds to Chancellor’s speech
Responding to the speech by Chancellor of the Exchequer, Sajid Javid, at the Conservative Party Conference in Manchester, Dr Adam Marshall, Director General of the British Chambers of Commerce, said: “It’s good to hear the Chancellor committing to significant improvements to roads and broadband. “Yet some key business infrastructure priorities were notable by their absence. If the government really wants to generate a confidence boost in our business communities, it should also give an
BCC explanation of transitional simplified procedures for customs in the case of no deal.
This week, HRMC has written to 145,000 UK VAT-registered businesses trading with the EU about the transitional simplified procedures (TSP) for customs, in the event of a no deal scenario. We welcome the introduction of the TSP arrangements as a means of avoiding prolonged checks at the border and gridlock on the motorways in the event of a no deal Brexit, but businesses need to be alert to the new requirements. This is government planning for every eventuality, including a no deal scenario. Businesses are
.jpg)
BCC Comments on GDP and Trade Figures
Commenting on the GDP and trade statistics for November 2018, published by the ONS today, Mike Spicer, Director of Research and Economics at the British Chambers of Commerce (BCC), said: “Despite a small improvement in GDP growth between October and November, the underlying three-month measure showed an economy that was slowing after what had been a stronger performance in the previous quarter. This is reinforced by the results of our own Quarterly Economic Survey, which found that the UK economy was
British Business Says no to No-deal in 100 Days’ Time
The UK’s five leading business groups, representing hundreds of thousands of businesses across the United Kingdom employing millions of people, today unite and call on politicians to prevent a disorderly ‘no-deal’ Brexit on 29th March. “Businesses have been watching in horror as politicians have focused on factional disputes rather than practical steps that business needs to move forward. The lack of progress in Westminster means that the risk of a ‘no-deal’ Brexit is rising. Businesses of all sizes are
BCC: Immigration Proposals Could Leave UK Businesses with Their ‘Hands Tied’
Commenting on the publication of the government’s Immigration White Paper, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said: “While these proposals are not quite as bad as we had originally feared, it’s no secret that companies across the UK are sceptical about whether the government’s approach will actually deliver on their practical, real-world concerns. “From Cornwall to Inverness, from Northern Ireland to Norfolk, employers are hugely concerned that the complexity
BCC Forecast: Business Investment Deep Freeze to Continue in 2019
Uncertainty over the UK’s future relationship with the EU is one of many factors that has weakened the outlook for business investment, according to the latest forecast by British Chambers of Commerce (BCC). The UK’s leading business group forecast a decline of -0.6% for business investment this year following weaker than expected data. This is a sharp decline from the 1.0% growth previously forecast. The BCC also expects business investment to grow by just 0.1% in 2019, down from 1.2% growth in its
Councillor Tudor Evans Visits Devon & Plymouth Chamber's New Premises
City Council Leader Tudor Evans visited the Devon & Plymouth Chamber of Commerce to meet with the Chamber’s Chair, Richard Stevens and Chief Executive, Stuart Elford. Councillor Evans, was delighted to visit the Chamber’s new premises where he was given a tour and was very interested to hear about the Chamber expanding their services to their members over the next few months. The Chamber’s CEO Stuart Elford said of the visit: “It was fantastic to welcome Councillor Evans to our premises and discuss
BCC: Time to put Political Games to Bed
Commenting on the confidence vote in the Prime Minister, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said: “With news that the Prime Minister remains in place, business communities will hope that these political games can finally be put to bed. Westminster must now focus all its energy on urgently giving businesses clarity on the future and avoiding a messy or disorderly Brexit. “We are just over 100 days to go until the UK leaves the EU, and firms are still in the
BCC: Westminster Should be Focused on Needs of the Country
Commenting on the news that the Prime Minister will face a vote of no confidence, Dr Adam Marshall, Director General of the British Chambers of Commerce (BCC), said: “At one of the most pivotal moments for the UK economy in decades, it is unacceptable that Westminster politicians have chosen to focus on themselves, rather than on the needs of the country. “The utter dismay amongst businesses watching events in Westminster cannot be exaggerated. Our firms are worried, investors around the world are
Employees Awarded International Trade Qualification
First Employees Awarded Nationally Recognised International Trade Qualification as Devon And Plymouth Chamber Launches New Training Courses for 2019. The International Trade team, at Devon & Plymouth Chamber of Commerce has just announced its training programme for 2019, following on from its highly successful 2018 programme which saw two people become the first recipients of Foundation awards in International Trade. The British Chamber of Commerce training programme covers all aspects of exporting
New Title Goes here
The Heart of the South Local Enterprise Partnership is currently consulting on its document entitled ‘Stepping up to the Challenge.’ This is a draft Productivity Strategy for the counties of Devon and Somerset. Our area compares unfavourably with most in the county in terms of the volume of the work achieved, per hour, spend on innovation, number of companies which export and overall how competitive our economy is. The strategy aims to double the size of the local economy by 2030 and improve our relative
NEWS FEED
Sign up for updates
Enter your email address below to join our mailing list and receive all the latest Chamber news.
