Responding to new ONS inflation figures, which show the consumer prices index rose by 3.6% in the year to June, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Many firms are beginning to buckle under the pressure of surging operating costs. As April’s hike to employer national insurance contributions continues to hit hiring plans, it’s vital that businesses do not bear the brunt of any future tax increases.
“Backing for transport, housing and skills initiatives in the capital would help to crowd-in the investment needed to make the Government’s growth mission a reality.
“We look forward to detail around how the Government plans to work with the private sector to deliver extensions to the DLR and Bakerloo lines, ensure a record level of affordable homes funding for London is allocated swiftly, and overhaul the apprenticeship levy to boost take up.”