Slowdown in economic growth underlines the need for the Autumn Budget to support business

Lucy Robinson (Credit: East Midlands Chamber)

After UK economic growth slowed to 0.4% in the three months to June, from 0.6% in the first three months of the year, East Midlands Chamber is urging the Chancellor to ensure business growth is ‘front and centre’ in the upcoming Autumn Budget.

The latest estimated GDP figure is from the Office for National Statistics and covers April to June 2026.

East Midlands Chamber Director of Resources Lucy Robinson said: “While some reassurance can be taken that GDP held up better than was widely anticipated against the effects of the Middle East conflict, the act we’re seeing a slight slowdown in growth, alongside the high costs of doing business, means the upcoming Autumn Budget must place business front and centre to ensure growth.

“Business must be incentivised to invest, in order to grow but our Quarterly Economic Survey for Q2 of this year shows investment has stalled for many firms. Fewer than half of East Midlands firms attempted to recruit and a quarter revised their machinery investment downwards, for example.

“To incentivise business to invest, you need supportive policies that reduce costs and remove barriers to growth, so firms are going to be looking to 28th October to see what measures are revealed in the Budget.

“The Chamber’s landmark publication – The Framework for Growth – calls for a set of actions from policymakers to alleviate pressure on business, such as wider energy cost support and a full root and branch review of business rates.

“The Autumn Budget on 28th October must fully support business and it’s essential the Chancellor seizes the opportunity to unlock growth.”