Responding to new ONS data showing the UK economy grew by 0.1% in Q3 of this year, Muniya Barua, Deputy Chief Executive at BusinessLDN, said: “With the economy in the slow lane and many firms reeling from last month’s announcement of an employer national insurance hike, the Government needs to do more to kickstart growth.
“The Chancellor’s Mansion House speech set out welcome steps to boost investment and the City’s competitiveness over the long-term, but more needs to be done in the short-term to build confidence.
“Quick wins include scrapping stamp duty on share transactions to improve the attractiveness of the UK as a place to list and reviewing the tourist tax which puts London at a disadvantage to other European capitals. The spending review next year should also include a long-term funding deal for Transport for London and further investment in affordable homes.”