Responding to the Bank of England interest rate hold, Muniya Barua, Deputy Chief Executive at BusinessLDN, said:
“After 14 consecutive rate hikes, the Bank’s inflation medicine finally appears to be reaching the end of its cycle. The risk is that previous doses choke off growth altogether. We urge the Government to use the Autumn Statement to help Britain break out of its low-growth trap.
“Restoring VAT-free shopping for international visitors would win a greater share of global shopping spend for the UK. Doubling down on childcare reform would boost labour market participation. And staying the course on HS2 will bring long-run productivity gains for the capital and across the country.”