Wednesday 16 November 2022

James Watkins, Head of Policy and Public Impact at the London Chamber of Commerce and Industry (LCCI), said:

“High inflation figures are no longer a shock to anyone – but they will continue to create an extremely difficult economic climate for businesses across our capital. Inflation is uniquely high in London and small and medium sized enterprises, the lifeblood of London’s economy, will continue to feel the pressure of inflation more acutely than larger businesses, who have the cash reserves to protect themselves from sudden and dramatic increases in business operating costs.

All eyes will be on the Government tomorrow – we urge them to prioritise measures that are pro-business and help London and the UK’s businesses through what will be a painful winter. It would be unjust to make the business community face the consequences of an economic crisis they did not cause.”

ENDS

Measures must be taken to mitigate the dangerous effects of high inflation