Responding to the Monetary Policy Committee’s decision to reduce the Bank of England base rate to 3.75%, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“This cut to interest rates will provide a measure of relief for some firms but, with growth flatlining, what they really need to see is new action to get the economy moving again.
“The Government must have a clear focus on delivery as we head into 2026 if it is to bolster business confidence.
“Tackling barriers that could hold up major infrastructure projects, thinking again about reforms to the business rates system that could hit investment, and ensuring that a proposed overnight stay levy is ringfenced to support growth would help to start the new year on the right footing.”