Extended Government support needed
The chief executive of the Black Country Chamber of Commerce says businesses in the region need extended Government intervention.
Corin Crane was commenting after the news that Britain’s economy grew in July as the country continued to recover from the coronavirus lockdown.
Official figures showed gross domestic product – the total value of goods and services produced in Britain — grew by 6.6 per cent in the month.
It was lower than the 8.7 per cent growth seen in June.
Mr Crane said, “While it has continued steadily on the path towards recovery, the UK economy still has to make up nearly half of the GDP lost since the start of the pandemic.
“The economic recovery still does not look V-shaped, even though virtually all restrictions on economic activity had been lifted by July.
“With many firms continuing to face an unprecedented cash crisis and unemployment likely to surge as the support schemes wind down, there remains little prospect of a sustained resurgence unless substantial action is taken.
“We know that the Black Country and West Midlands region was particularly impacted during the last recession and there remains to this day long term economic scaring, businesses here need extended Government interventions to prevent this happening again.
“It goes without saying that the chamber, working with local organisations, the business community and government is doing everything it can to support a recovery based on economic growth and job security.”
