Big challenges facing economy, despite end of recession - Lincolnshire Chamber of Commerce and Industry, UK

Lincolnshire Chamber of Commerce: Big challenges facing economy, despite end of recession

Commenting on the preliminary GDP figures for the fourth quarter 2009, published today by the ONS, Simon Beardsley Chief Executive of Lincolnshire Chamber of Commerce:

“This is good news, but clearly growth is far from strong, and it certainly means that the economy is far from being out of the woods.

“Nationally it is essential that the government demonstrates an unwavering determination to support wealth-creating companies in 2010. Additional business taxes must be avoided, and the 1% increase to employers’ National Insurance contributions, planned for 2011, should be scrapped.

”Unless the private sector is given the freedom to create jobs and wealth, the economic recovery of the UK and Lincolnshire will be slower than it should be, and we will face the serious risk of a double-dip recession.”

“These figures are disappointing and well below most analysts’ expectations. But, for the second quarter in a row, the GDP figures confirm the more realistic assessment signalled in our Quarterly Economic Survey, which clearly indicated that any recovery will face ongoing obstacles.