GDP growth ‘encouraging’ says Chamber but business needs support amid high rates and ongoing challenges

Richard Blackmore from The East Midlands Chamber

The region’s firms need business rates reform, faster planning and a long-term tax road map, East Midlands Chamber has said, despite latest figures showing slight growth to the economy.

Data from the Office for National Statistics showed 0.3% GDP growth in November, a figure higher than had been expected by economists.

East Midlands Chamber Director of Policy and Insight Richard Blackmore said: “Starting the year with economic growth is encouraging – it suggests a return to a sense of stability after the uncertainty that led up to last Autumn’s Budget – but firms are still wading through persistently tough trading conditions that must be addressed without delay.

“The Chamber’s Quarterly Economic Survey for Q4 of 2025 emphasised the fragile confidence we saw across the year in the East Midlands showing no sign of abate – stalled investment, four out of ten firms considering price increases and business rates moving up into the top three concerns of the region’s businesses after inflation and corporate taxation.

“Business rates are unfairly disproportionate to sectors like hospitality and manufacturing, firms still face sky-high energy bills, planning decisions are taking far too long and there needs to be a long-term roadmap on taxation.

“Our recently published Framework for Growth outlines these areas as among key asks that, if urgently prioritised by policymakers, would unlock growth in the East Midlands and incentivise investment. We need to see that happen as soon as possible in 2026 to enable the region to thrive.”