Alpesh Paleja of CBI said:
“After a grim lead-up to Christmas, the New Year hasn’t brought any sense of renewal, with businesses still expecting a significant fall in activity. Anecdotes suggest that companies are being hit by lacklustre demand and caution among consumers, while also continuing to adjust to measures announced in the Budget. Anecdotes suggest that companies are being hit by lacklustre demand and caution among consumers, while also continuing to adjust to measures announced in the Budget. There is an urgent need to get momentum back into the economy.”
Meanwhile, a separate report by EY-Parthenon reveals that one in five UK-listed companies has issued a profit warning in 2024— a crisis level only surpassed during Covid and the dot-com crash. Pressure is mounting on Reeves to reverse course…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”