Firms need support despite ease in inflation says Chamber

East Midlands Chamber has welcomed inflation falling to 3.2% but underlined the need for supportive measures for business, amid ongoing tough conditions and preparation for the government’s now passed Employment Rights Bill.

The latest inflation figure from the Office for National Statistics for November dropped more than expected from 3.6% in October.

East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “An easing of inflation is always a welcome sight but the level is still a mile off the government’s 2% target.

“Business is still navigating strong headwinds, not least the impact of finer detail unravelling from the Autumn Budget and the need to be prepared for the now signed off Employment Rights Bill.

“The implementation of the Bill is likely to disrupt the way many firms operate, as well as bring uncertainty around future recruitment.  To enable economic growth in the East Midlands, it is essential that the government follow through on their promise to engage with business and respond to concerns as firms prepare to implement measures in the Bill.

“With the tough challenges still faced by business, the need for supportive measures is amplified. The Chamber’s recently launched Framework for Growth, published on the day of the Autumn Budget, sets out specific asks across areas like business rates reform, skills investment and infrastructure that, if addressed by political leaders would allow the East Midlands to thrive.”