Gus Williams, interim CEO at Chambers Wales South East, South West and Mid, said:
“With inflation below the Bank of England’s target of 2%, today’s interest rate cut was expected and will be welcomed by businesses in Wales. In our Quarterly Economic Survey for Q3, 29% of businesses in Wales were concerned by interest rates. As inflation has come under control and interest rates begin to decrease, taxation has become the most concerning external factor for Welsh businesses.
“Further interest rate cuts in December are now more uncertain following political events such as the Autumn Budget and the US election results. This, combined with the comprehensive tax measures announced in the Budget, will see businesses in Wales looking to the Welsh Government’s own budget next month for economic clarity and stability to enable them to plan for long-term growth
