Is ‘Brexit’ Overshadowing Growth?

Is ‘Brexit’ Overshadowing Growth?


The deadliest challenges being encountered by businesses in the UK pertains to “fundamentals” rather than Brexit, according to the British Chambers of Commerce.

The UK government said it was dedicated to its industrial strategy and boosting productivity.
Policy makers have struggled hard with low UK productivity growth since the financial crisis.

In a speech while addressing a conference in London, director general, Adam Marshall, is due to say: “Successive governments have acknowledged that more could be done to get the basics right for business.

“Indeed, the current government’s developing industrial strategy is upfront about many of these challenges.

“Yet the leadership and the infrastructure simply aren’t there to make change happen.”

The BCC will call on the government to fund repairs on the local infrastructure, like roads, improving the capacity of railways and airports, build more houses, get rid of mobile phone “not-spots”, make the apprenticeship system stable and come up with a clear and easy-to-use immigration system.

Mr Marshall will also say that “business communities are worried about” policies being put forward by the Labour leadership, particularly nationalization.

A Department for Business, Energy and Industry Strategy spokesperson said: “The government’s commitment to boosting the productivity and earning power of people and places across the UK remains steadfast.

“Through our industrial strategy, we are building a Britain fit for the future, with a plan to help businesses create better, higher-paying jobs in every part of the UK.”
It said its £1.7bn Transforming Cities Fund will “address weaknesses in city transport systems while improving connectivity, reducing congestion and introducing new mobility services and technology”.

The spokesperson upheld, saying that the government had committed to raising research and development investment to 2.4% of GDP by 2027 “ensuring our world-class research and innovation base continues to thrive”.

The UK government is in continuing discussions with the European Union about Brexit.

On Wednesday, the EU rejected a UK argument that financial services should be included in a free-trade agreement.

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