Business people are in a rather gloomy mood, according to the latest survey from the British Chambers of Commerce. It forecasts that the UK will grow by only 1% next year, 2020. That would be the slowest growth rate since 2009 – although it must be said, that is a small improvement on its previous forecast of just 0.8%.
Adam Marshall, director general of the British Chambers of Commerce, told the Today programme that businesses and consumers were “holding back” because of uncertainty about whether a “messy and disorderly Brexit” could be avoided.
He said that while global trade was “anemic”, the BCC’s growth figures were “flattered” by the effect of higher government spending. “That’s a sugar hit for the economy, but it’s not the protein boost that we need for the long term,” he added.
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