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British Chambers of Commerce calls the end of the recession

The British Chambers of Commerce (BCC) has today called the end of the UK recession with a likely exit point being the final quarter of 2009. However, while upbeat about the performance of the UK economy in general, it is worth noting that growth in the fourth quarter of 2009 (yet to be confirmed by the Office for National statistics) is expected to be lower than that seen earlier in 2009. So what does the future hold for the UK economy?

While it looks more and more likely that the UK economy left the recessionary period in the final quarter of 2009 there are still concerns about the fragile nature of the recovery. The BCC has now called on the government to refrain from increasing taxes in the business arena in order to give companies a better opportunity to stabilise and consolidate their financial positions in the short term. There is a belief that if the government increases taxes too quickly, in the business and the consumer markets, the fragile recovery in the UK economy could be in danger.

The UK government has a very difficult balancing act ahead trying to encourage economic growth while also looking to pay down the growing UK debt and budget deficits as soon as possible. However, who will be in office to take up this challenge in 2010?

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