Rolling coverage of the latest economic and financial news
The CBI are blaming the uncertainty around last month’s budget for the slowdown in growth over the summer.
Ben Jones, CBI Lead Economist says:
“The UK economy stalled over the third quarter. Uncertainty ahead of the Budget probably played a big part, with firms widely reporting a slow-down in decision making. Hopefully this will prove to be a blip. We still expect the economy to return to a path of modest growth in the year ahead. But downside risks to the outlook have increased.
“The Budget has set off warning lights for business. The hike in National Insurance Contributions alongside other increases to employers’ cost base will add to the burden on business. And it is expected to trigger a more cautious approach to pay, hiring and investment as companies work through what it means for their own budgets.
Continue reading… The Guardian Read More Rolling coverage of the latest economic and financial newsBank of England governor says Brexit has undermined UK economyThe CBI are blaming the uncertainty around last month’s budget for the slowdown in growth over the summer.Ben Jones, CBI Lead Economist says:“The UK economy stalled over the third quarter. Uncertainty ahead of the Budget probably played a big part, with firms widely reporting a slow-down in decision making. Hopefully this will prove to be a blip. We still expect the economy to return to a path of modest growth in the year ahead. But downside risks to the outlook have increased.“The Budget has set off warning lights for business. The hike in National Insurance Contributions alongside other increases to employers’ cost base will add to the burden on business. And it is expected to trigger a more cautious approach to pay, hiring and investment as companies work through what it means for their own budgets. Continue reading…
