Adam Marshall, the head of the British Chambers of Commerce, has told the BBC’s Today programme that the ‘business as usual’ approach adopted by many companies since the Brexit vote has helped keep economic growth buoyant. But he warns that it will not last.
The organisation predicts that GDP will grow by 2.1 per cent this year, up from the 1.8 per cent it forecast just three months ago. But, according to Marshall, uncertainty over the UK’s relationship with the European Union and higher inflation will ‘dampen medium term growth’. It expects the UK’s economy to grow by 1.1 per cent next year, and by 1.4 per cent in 2018.
Energy The UK is facing an unprecedented energy supply crisis thanks to its reliance on ‘intermittent’ renewable energy, according to The Telegraph. The newspaper reports that Andrew Wright, a senior partner at Ofgem and former interim chief executive, says that ‘households could be forced to pay extra to keep their lights on while their neighbours sit in the dark because not everyone will be able to use as much as electricity as they want.
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