Britain’s economy outpaced forecasts by growing at 0.3 per cent in the three months to June but slowed from the 0.7 per cent seen in the preceding quarter.
The figures came amid rising inflation and unemployment, though York and North Yorkshire performed relatively well with this week’s claimant count figures.
Mark Casci, head of policy and representation at the West & North Yorkshire Chamber, said: “The growth figures seen in the second quarter of the year are a tribute to the resiliency of Yorkshire and the UK’s business community.
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“To achieve growth of 0.3 per cent against the backdrop of the global trade war and a sky-high tax burden is to be welcomed.
“However, we should underestimate the struggle that is operating an SME in 2025.
“The impact of April’s national insurance hike is palpable, with our research showing tax by far the chief cost pressure facing our members.
“The Government has made economic growth its chief mission priority, but this will only be achieved by a thriving private sector that is unencumbered by colossal overheads in the shape of taxation, wages and utility bills.
“What business leaders of all sizes now need to see is a climate that gives them the confidence to invest and create jobs, rather than one that makes them feel like they are perpetually running to stand still.”
