Responding to latest GDP figures, which indicate that the economy grew by 0.1% in August, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“These growth figures show that the economy is still struggling to get over the double whammy of April’s hike to employer national insurance contributions and significant global uncertainty.
“The window of opportunity to achieve the Government’s growth mission before the end of this Parliament is closing, so a pro-business Budget is a must for putting the economy back on a surer footing.
“The Chancellor should boost tourism by reinstating VAT-free shopping for international visitors, drop plans for a new levy on international students to protect the competitiveness of London’s world-class universities and back major infrastructure projects, such as extending the Docklands Light Railway to Thamesmead, to unlock vital investment in new homes.”