Creating confidence and fostering enterprise will be crucial if Gloucestershire and the South West is to weather the current economic climate, the regional head of audit, tax, advisory and consulting firm Crowe has warned.
Ross Prince, managing partner of Crowe in the Midlands and South West, said the Chancellor’s calculations had been thrown out of kilter by the onset of the conflict in the Middle East.
“The Chancellor’s figures would have been prepared well in advance, with the final touches and fine tuning to be added over the weekend – just as the conflict took hold.
“It is clear that 2026 will be challenging in growth outlook, unemployment and there is an inherent risk of inflation from energy costs, despite the current, short term fall.
“Her prediction of low growth for 2026, but then faster growth in 2027 and 2028 could be subject to global pressures, and we will watch with concern over the coming weeks and months.”
He urged businesses and owner-managers to stay close to their professional advisors and spend time on scenario planning – especially important in turbulent times.
“We need to be ready to think on our feet and business plans should be the subject of constant and regular appraisal.
“Crowe is committed to helping our clients take ‘Smart decisions with lasting value’ and our experts are on hand to advise in our Birmingham, Oldbury and Cheltenham offices.”
