Responding to new GDP data for May, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“After having the wind in its sails over the first quarter of this year, the UK economy has run aground as a hike to employer national insurance contributions, rising costs of doing business and uncertain trading conditions continue to hit business confidence.
“A globally competitive London is essential to getting the economy moving again. Swift and flexible allocation of Affordable Homes Programme funding to boost housebuilding, delivery of shovel-ready DLR and Bakerloo Line extensions to boost growth and open up sites for new homes, and a clear plan for apprenticeship levy reform could all help pave the way to higher growth.”