Home Business News The ‘economy has turned a corner’ and ‘everyone is predicting us to grow this year,’ says Sunak

The ‘economy has turned a corner’ and ‘everyone is predicting us to grow this year,’ says Sunak

14th Feb 24 2:56 pm

The Prime Minister has told the Business Council in the first meeting of 2024 that the “economy has turned a corner” and said that he is “unashamedly pro-business.”

The Business Council met at Downing Street on Wednesday and Rishi Sunak said that there is “global headwinds” which is causing disruption and affecting businesses with the ongoing situation in the Red Sea.

The heads of ITV, Almac and Rolls-Royce amongst others were told by Sunak, “I’m absolutely determined to make the UK the best place in the world to start to grow and invest in businesses.

“Of course we’re still battling with lots of global headwinds, not least the Red Sea at the moment, but at the start of this year I absolutely believe that the economy has turned the corner and we’re now pointing in the right direction.”

He added, “Hopefully that’s something that you’re seeing in your businesses, but inflation has been more than halved from 11% down to 4%, mortgage rates are starting to come down.

“Everyone is predicting us to grow this year.

“I think PwC has said that we’re going to outperform France, Germany, and Japan this year.”

The Prime Minister claimed that as a result of this the government have been able to make a start cutting taxes.

Sunak told attendees, “I grew up in a small business family, worked for my mum, did her accounts.

“(It) defined my career before I entered Parliament, I obviously worked in investing and finance, investing in businesses, helping them grow, and scale and thrive.

“And obviously, it defined my initial time in government… as chancellor of the Exchequer working with many of you during the pandemic.”

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