Responding to new GDP figures, which indicate THAT the UK economy grew by 0.7% in the first quarter of 2025, Muniya Barua, Deputy Chief Executive of BusinessLDN, said:
“It’s welcome the economy made a strong start to the year but this momentum has since slowed to a crawl as hikes to employment costs and the uncertainty caused by global tariffs hit business confidence.
“Next month’s Spending Review marks a defining moment for this Government and its growth mission. The Chancellor should focus funding on measures that will deliver rapid payback for the economy, crowd-in additional investment and provide businesses with the certainty they need to make long-term decisions.
“Re-instating VAT-free shopping for international visitors, providing Transport for London and its £11bn supply chain with a long-term funding deal and establishing a more ambitious Affordable Homes Programme would all send a clear message that the UK is open for business in an uncertain world.”