Responding to the release of new GDP figures, which indicate that the economy grew by 0.6% in Q1 of this year, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“The Iran war and political uncertainty at home have almost certainly stalled a positive start to the year for the economy.
“Against that backdrop, it was encouraging to see the Government using its King’s Speech to put growth at the heart of its legislative agenda, including backing airport expansion.
“But with operating costs rising and supply chains being disrupted, the Government must do even more to shore up business confidence.
“That means making good its commitment to review the business rates regime that is deterring investment, ensuring the proceeds of any new visitor levy for London are used to boost tourism, and introducing new measures to help first-time buyers and kick-start the housing market.”