BCC warning against ‘knee-jerk’ decisions

Business leaders are calling on the UK Government to introduce a series of measures to help firms, warning of “tough” months ahead.

The British Chambers of Commerce (BCC) said challenges which threaten the survival of many firms include energy bills, labour shortages, 40-year-high inflation and rising interest rates.

There has been an “alarming” drop in confidence with key economic indicators falling back to Covidcrisis levels.

Demands include investment in infrastructure, support for energy costs, help with hiring skilled workers, and the removal of trade barriers.

BCC director-general Shevaun Haviland said: “We are on borrowed time and the new prime minister must step up.

“Businesses can’t afford to see government make knee-jerk decisions that damage long-term growth.”