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UK LEAVES RECESSION

Commenting on the release of 4th Quarter GDP figures for 2009, Daniel Fell, Head of Policy at Doncaster Chamber, said:

“I am delighted that these figures confirm what we all expected – that the UK is now out of recession. Successive results of our quarterly economic survey predicted that this would be the case. However, business remains cautious of future prospects, particularly in light of the “emergency budget” that will be called should David Cameron win the General Election in May. Business should not be disproportionately affected by budget cuts and it is important we retain a focus on improving the skills, infrastructure and climate necessary for business success – we also believe that the abolition of the Regional Development Agencies (RDAs) would be a mistake. The recent improvement in employment figures is, in no small part, down to the success of the Job Centres, RDA’s and local programs, such as Success Doncaster.

Pre-recession, Doncaster had the seventh fastest growing economy in the UK and, with acres of brown field sites, the town remains ripe for investment - we need to return to that level of growth quickly, if economic regeneration is to continue apace. Business confidence has however stalled slightly in the last three months, probably due to nervousness surrounding Government spending cuts and a resulting secondary recession in 2010.

Economies such as Doncaster, which are somewhat reliant on the public sector spending, will continue to feel the pinch over the coming years as salary freezes and spending cuts kick in. It is therefore imperative that partners continue to deliver excellent work around inward investment in Doncaster, in an effort to move the economy away from reliance on the public sector and towards a stronger private sector balance.”