Chamber Chief Warns Against Economic Complacency
7:25am 21st October 2014
The leader of Dorset's Chamber of Commerce and Industry is backing calls for radical action to destroy barriers to economic growth.
Ian Girling has spoken out after the latest survey shows the economy is growing, but the pace of growth in manufacturing and exports has slowed.
Mr Girling is calling on the Government to reform business rates increase support for exporters and boost access to finance for small firms.
He said: "The latest Quarterly Economic Survey is a timely reminder that there are still challenges ahead and that sustained economic growth is not guaranteed.
"Dorset businesses have shown great resilience and innovation over the past few years to weather the economic storm.
"Now they, like their counterparts nationwide, need the government's support to ensure that they can continue to drive the growth necessary to ensure that we secure a lasting economic recovery."
He added: "This means reforms of business rates, greater access to finance for growing firms and more support for exporters, including many in Dorset.
"The Bank of England also needs to think very carefully about interest rate rises to avoid dampening business and consumer confidence."
Key findings in the survey showed domestic sales and orders for manufacturing were down in July, August and September compared with April, May and June. Sales balances showed a fall from + 42% to +23%, while orders were down from +41% to +24%.
Services remained at a historically high level, while export balances fell for manufacturing and services.
However, business confidence remained above pre-recession levels at +54% while employment was on the up to +32% from +30% in manufacturing and up by nine points to +28% in services.