Responding to the latest GDP figures, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“This data shows the UK economy is at real risk of sliding into a recession. The outlook is for stubborn inflation, high interest rates and industrial unrest. So the Chancellor’s Mansion House reforms must kickstart a renewed focus on boosting growth. Resolving strikes, unleashing innovation with a deal on Horizon Europe and reversing the decision to end VAT free shopping for international visitors are just some of the ways the Government can remove roadblocks to growth and productivity in the coming months.”