Q4 2024 Quarterly Economic Survey Report

We are proud to have sponsored the Q4 2024 Quarterly Economic Survey (QES) Report, published by the Thames Valley Chamber of Commerce (TVCC). This report follows the release of the national results by the British Chambers of Commerce (BCC).

As the largest poll of business sentiment conducted since the Budget, the QES reveals a significant rise in concerns about tax, including national insurance.

The survey, conducted between 11th November 2024 and 9th December 2024, gathered insights from businesses through a series of questions focused on key economic indicators.

Sue Staunton, Joint Managing Partner, commented: “A number of businesses advised that they would manage the increased costs by passing those onto their clients or customers. The actual financial impact of these increases will not be felt until the new fiscal year in April. It will be interesting to see how the impact of them crystallises in successive quarters compared with their expectations now.”

Paul Britton, CEO of Thames Valley Chamber of Commerce, commented: “The response to this survey which followed in the weeks after the budget reflects that local businesses feel they are carrying the weight heavily of the Governments plans for renewal, with Tax by far the top external concern. Business confidence and appetite for investment has been impacted due to the expectation of these rising taxes.”

Sue Staunton spoke with Tim Major, Senior Account Manager at Thames Valley Chamber of Commerce and Stuart Morrison, Research Manager at the British Chambers of Commerce, to gather their insights on the Q4 results. You can listen to the full briefing here.

Click here to download the report in full.