Responding to the Monetary Policy Committee’s decision to hold the Bank of England base rate at 3.75%, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“While the peace deal agreed by Iran and the United States is encouraging, many firms are still dealing with the fallout from the war together with political uncertainty at home and rising operating costs.
“The window of opportunity to unleash animal spirits and get the economy moving is closing fast.
“Whatever the outcome of a potential leadership race in the coming weeks, the Government must refocus on its central growth mission. That means making good on a manifesto commitment to overhaul business rates, ensuring any new visitor levy for London boosts tourism, and introducing new measures to help first-time buyers and kick-start the housing market.”