The Queen’s final journey
Monday is a solemn and momentous day for everyone in the United Kingdom, the Commonwealth and beyond, as the state funeral of Queen Elizabeth II takes place at Westminster Abbey.
During the last week we have witnessed shock, grief and reflection as well as a real sense of a celebration of the Queen’s life of service. A life where she concentrated on the positive and amplified this rather than looking at that which divides us.
Politics and division have been put aside in this period and the procedure of succession, the transition of Charles to King and arrangements for the Queen’s final journey has taken their place.
The Bank Holiday on Monday, the day of the funeral, is a day when the nation will again come together, as we did for the Queen’s Platinum Jubilee. To reflect on the positive effect and stability the Queen has gifted us all with over her 70-year reign.
Latest inflation figures
The latest inflation figures for August 2022 show a rise in Consumer Prices Index (CPI) inflation by 9.9%, showing a slight dip but doing little to ease the sustained pressure businesses and consumers have been facing over the past year.
This is also reflected in the squeeze on businesses’ operating costs as Producer Price Inflation (PPI) figures remain at record highs of 20.5% in the year to August 2022.
While the rate of growth has eased slightly, driven by a fall in fuel costs – most other goods continue to rise.
There is a limit to how long any business can sustain these rising costs before something has to give and British Chambers of Commerce (BCC) research, including input from Staffordshire firms, shows that two thirds of businesses plan to increase prices if they haven’t already done so.
Last week’s Government intervention on energy prices should have a dampening effect on inflation when it is enacted, however the lack of detail on exactly what help individual businesses will get, and for how long, means very few will be planning to invest any time soon.
Other issues ranging from transport and shipping costs, raw material prices, energy sector regulation and the tight labour market that must be addressed.
It is imperative the Government’s forthcoming ‘fiscal intervention’ provides business with confidence that there is a cohesive plan to take the economy forward.
As always if you would like to address a particular problem email info@staffordshirechambers.co.uk or join the debate in our Virtual Members Lounge: Virtual Members’ Lounge (staffordshirechambers.co.uk)
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