The organisation that runs Bath Chamber of Commerce has called for an end to instability at the heart of government following Liz Truss’s resignation, warning that it was harming business’s prospects at an already difficult time.
Business West, the region’s largest business group, also said it was crucial the next Conservative Party leader – and prime minister – restored calm and competent government to the country.
Business West managing director Phil Smith said: “We emphasise the need for calm and competent government to deliver strategic direction for the economy during a period of chaos and uncertainty.
“The resignation of Liz Truss and the leadership contest to appoint the third prime minister this year shows the political instability that has characterised the UK in recent weeks.
“This harms business certainty and viability just at a time that they need to plan for a difficult winter.”
He said firms were facing “a myriad” of issues such as inflation reached a record high and the labour market remained tight and with energy bills potentially soaring again next April.
“Our recent survey found that business concern about inflation is at a record high of 73%, while business confidence is at an unprecedented low of 9%, compared with 32% in the depths of the pandemic. This is unsustainable,” he added.
“It is crucial that the Conservative Party comes to a decision on a new leader who can return both political and economic stability.”
“Business West emphasises the need for calm and competent government to deliver strategic direction for the economy during a period of chaos and uncertainty.
