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Small firms call for Emergency Brexit Budget as economy flatlines

Responding the announcement that GDP growth was 0% in the three months to July, Federation of Small Businesses (FSB) National Chairman Mike Cherry, said:

“Uncertainty has thrown sand in the wheels of small businesses, making it impossible for us to plan, hire and grow.

“The very prospect of a sudden, chaotic no-deal Brexit in less than eight weeks’ time is proving enough to have a sustained chilling effect on output. That’s why the Government needs to intervene with an Emergency Brexit Budget that will take the heat off employers, support our high streets and push back premature tax changes.

“Getting our economy back on track starts with securing a pro-business Brexit deal. Three years on from the referendum, business owners are sick to the back teeth of parliamentary posturing. 

“It’s interesting to note the GDP uptick in the month of July, driven by manufacturers and construction firms. It’s possible that stockpiling is once again having an impact but – having already been marched up the hill only to be marched back down again earlier in the year – we shouldn’t bank on a big stockpiling-linked GDP bump of the kind we saw in Q1.”

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