BANK OF ENGLAND REPORT By: Gordon

I attended the latest Bank of England Quarterly Report on Tuesday 16 November 2010. The position of the economy since the last report has not altered a great deal.
 
Inflation remains above target, interest rates are not expected to rise until late 2011 or later and bank lending is still restricted. The cost and availability of credit for small companies has not eased and conditions remain tight relative to pre-financial crisis levels
 
The outlook for London remains uncertain with business confidence (as measured by the London Chamber of Commerce) still low due to structural weakness in the economy, productivity issues, impending VAT increase, reduced disposable income and loss of opportunities in the public sector due to recent public spending cuts.
 
The overall conclusion was that 2011 will be another of challenges. But where there are challenges there are also opportunities if you position your business correctly

At Haxton, Chartered Accountants for West London, we are here to help businesses assess the future and maximise any potential opportunities.