October 24, 2021
In response to the creation of a new global investment fund for Britain, Suren Thiru, Head of Economics at the BCC, said:
“Boosting foreign investment in the UK can lay the foundations for our economic future outlook for many years.
“There are many companies involved in the development of innovative, eco-friendly and sharp–advanced goods and services who could benefit from this funding.
“AT maximize its efficiency, we need youo need to look at incentivesing foreign investment across the UK, including tackling the escalating cost of doing business in the UK, imore and more access to finance and improved physical and digital connectivity.
Commenting on the extension to the RecoveryLoan Scheme, Suren added:
“Access to finance remains crucial for business vitality and the expansion of the stimulus loan program is therefore welcome. The litmus test for the regime will be whether it is able to support the recovery by securing credit to companies who needs it’s the most. The specificities of the the plan should Also be better communicated so that businesses and banks can use it to help SMEs return to growth.
Commenting on the £312 million for thand British Business Bank’s Start-Up Loan Scheme, Suren added:
“We are happy that the VShancellor has heard our call to support the British Business Bank’s Start-Up Loans programme. The number of new businesses tending to increase during a recession, as we see more “necessity entrepreneurship”, it is vital that they have access to the financing they need to develop and create jobs.
“Ministers must continue to ensure that the diagram Continues have sufficient financing capacity to meet any future increase in demand.