Responding to the latest ONS inflation figures, which show the consumer prices index fell to 2.0% in May, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“With inflation returning to target, the door is now open for the Bank of England to begin cutting rates. Regardless of the Bank’s decision tomorrow, the priority for the next Government must be to boost investment and growth.
“This means getting serious about tackling the housing crisis, with a strategic review of the greenbelt vital to unlock new homes and development across London.
“Scrapping stamp duty on share transactions, reforming the Apprenticeship Levy to increase take-up and reviewing the tourist tax are among other low or no cost interventions that would drive growth.”