BCC Comments on MAC Report
Commenting on the release of the Migration Advisory Committee’s report on the UK’s immigration system, published today, BCC Head of People Policy Jane Gratton said: “Businesses want a flexible immigration system that provides access to the staff they need, without costly delays or red tape. “While a reduction in the salary threshold is welcome and the list of eligible jobs has been expanded, it is disappointing that recommendations did not take account of regional salary differences. This risks
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Businesses Representing All Areas of UK Economy Offer Government Help Designing New Immigration System
Open letter to Home Secretary published days ahead of Migration Advisory Committee report The UK’s five largest business organisations (BCC, CBI, FSB, IOD & MakeUK) - and around 30 trade associations, from hoteliers to universities, employing millions of people – have signed a letter to Rt Hon Priti Patel offering their help in designing a new immigration system. The signatories welcome recent indications from government about reducing the £30K salary test and scrapping the net migration target, which
BCC Comments on ONS Labour Market Data
Commenting on the ONS labour market figures for January 2020, published, Suren Thiru, Head of Economics at the British Chambers of Commerce (BCC), said: “The jobs market remains strong in the face of a challenging economic backdrop, with firms continuing to hire in large numbers. “However, falling job vacancies in Q4 compared to the previous quarter suggests that a subdued economy, lingering uncertainty and persistent recruitment difficulties are weighing on firms’ hiring decisions. If sustained, this
China Export Workshop: Seizing Export Opportunities in the Year of the Rat
On Tuesday 25th February (9am – 11.30am), Devon & Plymouth Chamber of Commerce, in partnership with China-Britain Business Council, are be hosting a China Export Workshop at the Chamber Offices, Derriford, Plymouth. After several decades of rapid growth, China is now firmly established as the second largest global economy after the US. China is a fast-growing, dynamic marketplace and despite the slowdown in China's headline growth figure, UK exports to China have almost doubled over the past five years;
BCC Responds to Chancellor’s Comments on Post-Brexit Regulation
Responding to the Chancellor’s comment that there will be no regulatory alignment with the EU after Brexit, reported in an interview with the Financial Times today, BCC Co-Executive Director Claire Walker said: “Our business communities have differing views but are prepared to be pragmatic about coming changes to regulation. Uncertainty around the extent of divergence risks firms moving their production elsewhere. “The government must clearly communicate these changes in a timely way and
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BCC Comments on HS2 Speculation
Responding to reports on the unpublished Oakervee Review, seen today in the Financial Times, BCC Director General Dr Adam Marshall said: “Our business communities want to see HS2 delivered in full without further delay. “This project is an investment that will transform the capacity of our railways and the potential of so many areas across the UK. While there can be no blank cheque, cutting the project back would put development and investment plans across the country at risk.”
Board Director to have British Citizen Award (BCA) Bestowed Upon Him
Devon & Plymouth Chamber of Commerce is delighted to announce that Board Director, Steve Whiteway has been selected to receive a BCA in January 2020. Steve Whiteway, from Plymouth, Devon is to be recognised at the Palace of Westminster with a British Citizen Award in recognition of his extraordinary endeavours. The British Citizen Award, in partnership with One Stop, is now in its fifth year and recognises exceptional individuals who positively impact their communities throughout the country. Steve
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BCC Comments on Launch of the Budget Process
Co-Executive Director Claire Walker said: “Businesses will be looking to the Budget to boost confidence and stimulate growth at a time of significant uncertainty for the UK economy. “Firms of all sizes need to see a package of fiscal measures to alleviate the burden of high up-front costs and boost investment. The Chancellor must outline how he will make good on election promises of a fundamental reform of Business Rates and we also need to see a moratorium on all new up-front costs for
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BCC Comments on Flexible Rail Fares Trials
Commenting on the Government’s announcement of flexible rail fares trials and fares trials funds, Co-Executive Director Hannah Essex said: “Businesses will welcome flexible fare trials that support changing patterns of work. With 65 per cent of companies offering flexible working hours, firms and the talent that drives them will want to see these rolled out across the country so that everyone can benefit. “More broadly, just 24 per cent of businesses feel the UK rail network is meeting their needs. It
BCC Comments on New National Minimum Wage Announcement
Commenting on the announcement that the new National Living Wage will be set at £8.72, with the National Minimum Wage increasing across all age groups, Co-Executive Director Hannah Essex said: “Businesses want to pay their staff a good wage. They recognise and support the drive to improve living standards. But many have struggled with increased costs in a time of great economic uncertainty. Raising wage floors by more than double the rate of inflation will pile further pressure on cash flow and eat
BCC Quarterly Economic Survey Q4 2019: UK Economy Stagnating as Service Sector Slows
The British Chambers of Commerce’s Quarterly Economic Survey reveals that the UK ended 2019 in stagnation, amid long term uncertainty, rising business costs and a slowing global economy. The latest results of the survey – which is the largest of its kind in the UK and a leading indicator of GDP growth - found protracted weakness across most indicators of economic health in the final quarter of 2019. Service sector indicators worsen and remain well below their historic averageIndicators for
Initial Comment on General Election Outcome
Stuart Elford, CEO at Devon & Plymouth Chamber of Commerce commented: “This election result is a vote to end paralysis, not a mandate to force through a deal that would be disruptive to business. The business community will be calling on the Prime Minister to provide swift certainty about what Brexit means and time to prepare for and implement it. On domestic matters, the Government needs to increase business confidence by reducing the costs of doing business and reviewing the unfair rates system, and
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
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
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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
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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
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