NTIA Comments on Inflation Figures

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Michael Kill CEO NTIA Says:

“Although figures today suggest an easing of inflationary pressures, with CPI down from 10.1% in March to 8.7% in April, it is clear that the sectors we represent are still suffering, with exorbitant energy bills, rising interest rates, ongoing workforce and supply chain challenges.”

“Even the Governor of the Bank of England, cannot say with confidence that this inflationary u turn will not come with further monetary tightening if the economic position persists, meaning interest rates could still go up.”

“We need the Government to listen to the calls from industry to cut taxes, in particular VAT. This will allow businesses to gain some financial headroom, the ability to plan and invest in the future, and play a bigger part in the countries economic recovery as they did in 07/08 during the financial crash.”

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