Responding to the latest GDP figures, Matthew Fell, director of competitiveness, said:
“These figures show that the economy is flickering into life, but the UK is stuck in a low-growth rut. There are several low-cost measures where the Government could provide a much-needed boost to growth, including reversing the decision to end VAT-free shopping for international shoppers. Powering up productivity is also essential to move out of the economic slow lane and remedy the ongoing cost of living crisis. The Government should unleash innovation with a deal on Horizon Europe and boost digital skills capabilities to take advantage of AI and emerging technologies.”