FOR IMMEDIATE RELEASE
The Forum of Private Business has raised concerns about the impact on the business community of today’s base rate rise.
Today’s rise represents the first increase since July 2007.
Ian Cass, Chief Executive of the FPB, said: “While the small increase may not impact businesses hugely, it will make them think again about their spending commitments. At a time when the business community is already being cautious, this rise may lead many to hang onto their cash to ease difficult cash flow issues.
“Additionally, late payment issues will have a greater impact than previously and they will think even harder before lending money to invest in growth.”
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