Last week, the chancellor, Jeremy Hunt, made his first major speech since the autumn statement and said his focus would be on growing the economy. BIRA has been calling on the government to focus on growth as well as containing inflation after recent figures highlighted that consumers reduced their spend in the run-up to Christmas and throughout January.
In his speech Jeremy Hunt announced his framework for growth and also said his strategy would focus on the four pillars – enterprise, education, employment and everywhere.
BIRA ceo, Andrew Goodacre, commented: “At last we have some idea of how this government will grow the economy. Unfortunately it is only words this stage, and we can only hope that the chancellor will use his spring statement in March to provide more of the details.
“There is a general acceptance that inflation will fall this year by virtue of the previous inflationary factors naturally decreasing This should allow the government to devote time to developing meaningful plans to provide growth and increase consumer confidence. I hope that the E for everywhere incudes the high street businesses that are feeling the brunt of the reduced consumer expenditure.”
