9.2 C
Sunday, June 16, 2024

‘No time for complacency’, say business leaders as growth slows

Responding to the latest GDP figures, which show economic growth slowed to 0.3% in the first quarter of this year, Stephen Martin, Director General of the Institute of Directors, said:

“Today’s figures show that this is no time for complacency. It’s just one quarter, but the slowdown in growth emphasises the importance of maintaining confidence amongst businesses and consumers over the next couple of years as our political leaders haggle with the EU over the terms of the Brexit deal. The next Government can help to prevent a collapse in confidence by making it clear they are pursuing an orderly exit, where we transition as smoothly as possible from EU membership to a new trading arrangement.

“The Brexit negotiations, as time-consuming as they will be, cannot be an excuse to take our eye off the ball on the many factors affecting the UK’s long-term economic competitiveness. After the election, companies expect the next government to quickly get to work on improving transport and broadband infrastructure, and making sure our tax and regulatory systems are fit to cope with the growth of the digital economy and the effect it is having on business models and the world of work.”

Lee Petts, IoD Lancashire Chairman and managing director of Preston-based Remsol, added: “Lancashire’s economy has shown welcome signs of improvement in recent years, due in no small part to initiatives like Boost and the creation of a unifying ‘Lancashire narrative’ led by the Lancashire Enterprise Partnership and Marketing Lancashire.

“We must all hold our nerve and ensure that issues like Brexit and the upcoming snap election aren’t allowed to distract us from the business of growing a successful and thriving economy here in the county.”



Bespoke named Best Place to Work by The Sunday Times

Chorley-based digital marketing agency Bespoke has been named by the...

Sky Bet Bonus Code 50/1 England to Wear White – Get £50 Free Bets

New customers at Sky Bet this June, ahead of...

US Open: McIlroy and Cantlay share lead after round one

Rory McIlroy and Patrick Cantlay hold a share of...

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

From £30 to Worldwide Success: Michelle’s Entrepreneurial Triumph

Against all odds, Michelle, a dedicated entrepreneur, has built...

Work begins on £1.5m annex to Greater Lancashire Hospital

Greater Lancashire Hospital has commenced building work on a...

Last call for Lancashire Artist of the Year 2024 entries

It's the last call for entries to the Lancashire...

More News

Lancaster shop worker fined for selling vape to underage girl

A man working in a Lancaster vape shop has been fined £916 for selling a disposable flavoured vape to a teenager without asking for...

One in three businesses in Lancashire fail test knife purchases

Trading Standards revealed that one in three Lancashire businesses failed their test purchases for knife sales. Operation Sceptre, an operation focusing on knife crime, involved...

Five Preston stores fail underage knife sales test

Five out of eight traders in Preston have failed a knives test purchase set up by Trading Standards officers and police. Young volunteers from across...