IoD: Use the Investment Summit to reset the narrative on UK growth

Commenting on ONS data that showed growth of 0.2% GDP in August 2024, following no growth in July, Anna Leach, Chief Economist at the Institute of Directors, said:

“It’s good to see the economy return to growth in August, after two months of stagnation. Growth over the second half of this year is expected to be somewhat slower as headline activity shifts downwards to match underlying momentum.

“Ahead of the Budget, there’s an understandable focus on addressing this year’s fiscal deficit. But we need to shift the narrative from filling today’s deficit to building tomorrow’s economy – that’s the key to sustainable public finances and higher living standards. The Investment Summit and Budget provide opportunities for the government to build on its manifesto commitments to drive up investment by providing further detail on the National Wealth Fund’s role in catalysing private capital and the early priorities for the industrial strategy.”