The business lobby group calls on the government to boost plans for economic growth.
Firms are not investing, prices are rising and the economy is contracting - a dire economic picture that is set to last into 2023, the UK's biggest business group has warned.
The CBI, which represents 190,000 UK businesses, said Prime Minister Rishi Sunak and Chancellor Jeremy Hunt had succeeded in stabilising the markets in the wake of Liz Truss's mini-budget. At the group's conference last month, he called on politicians to be "practical" about using immigration to solve worker shortages and boost economic growth.
Firstly, he said, the CBI expects interest rates to come down quicker than the OBR is predicting. Secondly, Mr Danker said the CBI spoke to many firms that had plans to invest but had paused them because they were worried about the current climate. But the UK also faces significant labour supply challenges due to it being more difficult for small businesses to trade with Europe or recruit workers due to Brexit, which ended freedom of movement for EU citizens coming to the UK and vice versa.
Belgique Dernières Nouvelles, Belgique Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Newcastle Dog and Cat Shelter faces quadrupling energy billsThe Newcastle Dog and Cat Shelter says it expects its annual £50,000 bill to rise to over £200,000.
Lire la suite »
Redcar and Cleveland Council faces £1.2m bill over sewage spillRedcar and Cleveland Council workmen damage a main pipe causing sewage to spill on to a beach.
Lire la suite »
Police watchdog chief sacked and faces criminal probeThe head of the police watchdog was forced to resign after becoming subject to a criminal investigation into a historical allegation, the home secretary has revealed.
Lire la suite »
Councillor 'chuffed to bits' as Darwen takeaway forced to close downCouncillor 'chuffed to bits' as Darwen takeaway forced to close down after planners say 'no'
Lire la suite »
UK faces recession and ‘lost decade’ of growth unless ministers act fastUK faces recession and ‘lost decade’ of growth unless ministers act fast 📉 Confederation of British Industry warns next year will see a year-long fall in consumer spending as inflation continues to squeeze UK households
Lire la suite »
'Sons of b*tches' – Uruguay star faces 15-game ban for elbowing referee in head before X-rated tiradeGimenez, like many of his Uruguayan teammates, threw his toys out of the pram, as well as an elbow into the back of an official's head. Whoops.
Lire la suite »