BCC Quarterly Economic Survey: Business Conditions Stall As Tax Anxiety Grows
Following improvements to business conditions in the first half of 2024, key indicators stalled or declined in Q3 – with manufacturing suffering the most. Taxation is now more of a concern than inflation for business, cited by nearly half of firms (48%). Business confidence has declined slightly, with 56% of firms expecting an increase in turnover in the next twelve months. The proportion of firms expecting to put up prices has levelled off (39%) after falls earlier in the year. Most firms (77%) are still not increasing levels of investment. In the first major survey of business sentiment since the General Election, the BCC’s Quarterly Economic Survey – the UK’s largest and longest running independent business survey – shows taxation is now the main area of concern for businesses.