Responding to the Monetary Policy Committee’s decision to reduce the base rate to 4.25%, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“This latest interest rate cut will bring a measure of relief to some firms as the uncertainty created by global tariffs shrouds the economy.
“With the Spending Review just over a month away, the Government now needs to build on positive recent trade deals and planning reforms by putting its money where its mouth is to boost growth and prioritising public spending that crowds-in private investment.
“Specific measures include a long-term funding deal for Transport for London to keep the city moving and support its UK-wide supply chain, a more ambitious Affordable Homes Programme to help tackle the housing crisis, and a new devolution settlement for the capital which empowers City Hall to deliver the infrastructure, housing and skills the city needs.”