The end is nigh for the recession

According to the British Chambers of Commerce (BCC), the end of the recession is in sight.

The BCC’s quarterly survey said that there have been a number of key improvements, especially for small businesses operating in construction and manufacturing. However, the organisation did warn that progress was weaker than in the third quarter of 2009.

David Kern, Chief Economist of the BCC, commented:

“With improvements in most key national indicators, the Q4 results support the view that we are on the brink of leaving the recession. However, with a number of critical measures still in negative territory, the economy is struggling to enter the recovery phase.”

It is believed that banks are still failing to provide the necessary capital to small business and consequently there has been a corresponding fall in investment in manufacturing plant and machinery.

Despite improvements in manufacturing and construction, the BCC has called on the Government to further support small business. It believes that the UK's economic recovery will be aided by scrapping the 1% National Insurance increase in 2011 and by stopping additional business taxes too.

14/01/10