FSB reacts to decision on UK interest rates
Commenting on the Bank of England’s decision to leave interest rates on hold at 0.5%, John Allan, national chairman for the Federation of Small Businesses, said: “There has been plenty of speculation in the last few months about the timing of the first interest rate rise in the UK since July 2007. Against a backdrop of recent FSB research shows that business confidence is cooling, we remain of the view rates should not be raised. Small businesses will therefore welcome that the Bank has opted to leave interest rates at the current 0.5%.
“Looking ahead, small firms will be facing an array of changes including pensions auto-enrolment, the national living wage and changes to the tax on dividends. In addition, there remains ongoing concerns over global economic stability. Today’s decision will therefore give small businesses some much-needed stability in this constantly shifting landscape.”