Birmingham chamber cautious about GDP growth
The chief executive of Coventry and Warwickshire Chamber of Commerce has welcomed the latest Gross Domestic Product (GDP) figures but said there was “no room for complacency”. Bennett also warned the region had not seen “the full effect” of the government’s cuts.
The latest revision for UK’s economic growth figures for the second quarter of 2010 says that GDP rose by 1.2 per cent rather than the 1.1 per cent originally forecast.
Bennett said: “We hope this is the beginning of a sustained recovery because we know just how hard our members have been hit in the past two years.
“But we cannot become complacent. We have not seen the full effect of the government’s cuts yet and what bearing they will have on the economy and the jobs market.
“As a chamber, we will continue to campaign on behalf of businesses in this region that interest rates remain low and the conditions for growth – such as less burdensome red tap – are a priority.”
