Responding to the Monetary Policy Committee’s decision to hold the base rate at 4.5%, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Ahead of next month’s employer national insurance hike, many London firms are fretting about the cost of doing business. Today’s decision to hold borrowing costs underscores the need for the Government to double down on its growth mission with a Spending Review that drives confidence and investment.
“Providing Transport for London and its £12bn UK supply chain with long-term funding certainty, delivering a more ambitious Affordable Homes Programme, and providing the capital more powers to drive regional growth would give the economy a much-needed boost.”