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ICAEW London and East Economic Summit

June 21, 2022 @ 8:30 am - 10:00 am IST

Economic Forum

The latest Business Confidence Monitor (BCM) in London shows business sentiment weakening across most of the UK. As economic conditions tighten, businesses are facing significant challenges, particularly on the supply-side, that could hinder future growth. Input costs are increasing sharply, while salaries are rising in response to recruitment difficulties and labour shortages. This is despite companies experiencing strong sales growth as they continue to recover from the pandemic.

  • London’s Business Confidence Index has fallen for a third successive quarter, although it remains just above the UK average.
  • Over the last year, businesses have seen domestic sales and exports rise strongly. And further gains are expected in the year ahead.
  • Labour costs are rising for businesses. This is through both an increase in staff levels and also a marked increase in salaries. This is linked to persistent challenges with skill availability and staff turnover.
  • Other cost pressures are also mounting, with input price inflation climbing to its highest rate since late 2008. To partly offset this, selling prices are increasing.
  • Regulatory requirements are also a widespread issue. Transport problems remain elevated, although these have eased from recent quarters.
  • More encouraging is that businesses have upgraded their capital investment plans, probably driven by growing capacity constraints for companies.

You can read the full report here and on Tuesday 21 June from 08:30-10:00, we will be holding our 4th virtual London and East Economic Summit where the results of this latest BCM will be discussed by a number of high-profile panellists. Delegates at the event will be able to input into local discussions which makes this event one not to be missed as we consider the question “How is the economic environment impacting the business risks and opportunities in 2022?’’

Krishnan Guru-Murthy, the award-winning news anchor, will be joining us as plenary chair at the London and East Economic Summit and keynote speakers include:

  • Huw Pill, Chief Economist and Executive Director for Monetary Analysis at the Bank of England.
  • Anna Leach, Deputy Chief Economist at CBI
  • Iain Wright, Managing Director, Reputation & Influence at ICAEW
  • Suren Thiru, Director, Economies & Corporate Finance, ICAEW

Our keynote speakers will share their views at a national and regional level before breaking into local panel groups. Here panellists will examine the economic landscape of the locality and the key risks /opportunities unique to the local area. After each panellist has introduced themselves, the Chair will pose questions to generate ideas for the future economic prosperity of the locality and take questions from the audience via the chat facility.

The overarching objective is to stimulate debate on how best the local economy can continue the challenges we are currently facing and how the local professional community can support this goal over the next year.  You can book onto the event at ICAEW London and East Economic Summit or please email Debbie.Antony@icaew.com

Details

Date:
June 21, 2022
Time:
8:30 am - 10:00 am IST
Event Category:

Venue

Online Event

Organiser

ICAEW
Phone
+44 (0)1908 248 250
Email
events@icaew.com
View Organiser Website