Responding to new ONS inflation figures, which show that the consumer prices index rose by 3.1% in the 12 months to August, Responding to ONS figures showing that the consumer prices index [was higher than July] in the 12 months to August, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“Rising inflation is pilling pressure on firms as the Iran war continues to push up fuel prices and create an unpredictable trading environment.
“The Chancellor must come forward with pro-business measures at next month’s Budget to give companies the confidence they need to hire and invest. That includes making good on a manifesto pledge to overhaul business rates and tackling the regulatory and tax costs that are holding back housebuilding.
“The Government’s devolution revolution has the potential to unleash growth in the capital and throughout the country, if local leaders have the right incentives to back growth-enhancing projects and can use innovative delivery models.”