Responding to new inflation figures, which show the consumer prices index rose by 3.5% in the 12 months to April, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“This inflation spike risks putting the brakes on encouraging first quarter growth figures, especially as global uncertainty continues to hit business confidence.
“The Government should use next month’s Spending Review to build on welcome recent trade deals by giving firms the long-term certainty they need to invest and hire.
“A long-term funding deal for Transport for London and its £11bn UK-wide supply chain, a more ambitious Affordable Homes Programme and long-term rent settlement, and greater devolution to drive regional growth would all help to crowd-in the additional private investment the UK urgently needs.”