Reacting to the announcement of the new Prime Minister, Sara Williams, Staffordshire Chambers CEO, said: “Congratulations to Liz Truss on running a successful campaign to become the UK’s new Prime Minister.
“At the top of her agenda must be the immediate action needed to support the economy. Staffordshire businesses need urgent support to help offset spiralling prices. Our members have expressed growing concerns about energy and material prices – and it’s imperative that the new leader addresses these issues as a matter of priority.
“Businesses are now in a sink or swim situation and unless a support package is rolled out efficiently and effectively, we will see many local businesses shut their doors for good.
“The last few months and indeed years have been difficult for everyone, time is running out and urgent action is needed to deal with the costs crisis.
“The British Chambers of Commerce now believe that the country has already entered a recession and that inflation will hit at least 14% in the months ahead.
“For businesses and households, prices are set to become unsustainable, dragging the economy into dangerous waters and the outlook for both businesses and consumers will be bleak indeed.
“I look forward to seeing what action is taken in the coming weeks and months.”
You must be logged in to post a comment.