Responding to the Monetary Policy Committee’s vote to keep the base rate at 5.25%, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Businesses continue to face a triple whammy of high borrowing costs, above target inflation and anaemic economic growth.
“Against that backdrop, the Government must look again at measures which will help free the UK from its low-growth trap.
“Scrapping the tourist tax would boost spending across the country, reviewing London’s green belt would help tackle the housing crisis, and bolder childcare reform would encourage more parents into work.”