CBI responds to the latest GDP figures

Alpesh Paleja, CBI Lead Economist, said:

“The UK economy grew slightly towards the end of the last year, as a second lockdown in November was partly offset by a pick-up in GDP over December. But with restrictions tightening again in the New Year, we’ll likely see further dips in activity.

“Getting the pandemic under control is critical to our recovery, and speedy rollout of vaccines gives us some hope. But until we can end the stop-start cycle of lockdowns, businesses will need support to continue in parallel with restrictions.

“The Budget comes at a critical time for the UK. Extending the furlough scheme through to summer and continuing the business rates holiday for another three months will help safeguard jobs, livelihoods and communities across the country.”