At the mid point of 2014 it is encouraging to note that our steady economic recovery has broadly been maintained. There are some clear headline positives in this survey – chief among them our continued export growth – alongside evidence of underlying weaknesses, in particular some erratic investment figures.
As is often the case with our QES survey, optimism in some areas is counterbalanced by weaker figures elsewhere.
To some extent this is the nature of business, and peaks and troughs are to be expected. However, this should be taken as a warning by policy makers. If consistent and sustainable growth is to be achieved, then the wider business environment must also be consistent.
Speaking to the BCC on behalf of all Chambers in the Yorkshire and Humber Region Chamber Chairman, David Horsman comments:
“The proposal for an ‘HS3’ to connect cities across the North has raised familiar arguments about the North South divide and the relationship between our regions and the political classes in Westminster. While companies in the Yorkshire and Humber region are in broadly positive spirits at the mid-point of the year there is no doubt that recovery remains slower than had been anticipated and there is a risk that Britain will experience a “two speed” recovery with the greater part of growth benefitting the South East.
Businesses in our region would like to see real solutions to the issue of access to finance - and a comprehensive review of the whole system of Business Rates, so that we might create the best possible business environment to support speedy and sustainable economic growth.”