Responding to ONS data which show the consumer prices index rose by 2.3% in the 12 months to October, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Firms will be bracing themselves for costs to rise even further once the pain of next year’s employer national insurance and minimum wage hikes kick in.
“If the Government is serious about delivering on its growth mission, it should take steps to boost business confidence. That includes setting out how it will overhaul the apprenticeship levy and reviewing the tourist tax.
“The spending review next year should also include a long-term funding deal for Transport for London and further investment in affordable homes.”