英国伦敦工商会&Savanta：2025年第四季度伦敦企业经济状况调查报告（英文版）（16页）.pdf

1、LONDON QUARTERLY ECONOMIC SURVEYIn partnership withCONNECT.CHAMPION.SUPPORT.Q4October December 20252FOREWORDThe final quarter of 2025 proved to be a testing period for London businesses.The Budget was widely seen as an opportunity for the government to provide much-needed certainty,and yet the only

2、certainty delivered was higher costs.The Employment Rights Bill compounded existing concerns,leaving the business community without the stability it has long called for in order to take risks,invest,hire and expand.This most recent London Quarterly Economic Survey presents a mixed picture.Conditions

3、 for London businesses vary depending on sector,size and location.Larger firms,for example,reported the greatest vulnerability to elevated operational costs,while smaller firms felt the strongest pressure on their ability to invest.What did remain consistent,however,was the need for businesses to pr

4、ioritise stability,flexibility and risk management.Ambitions to take risks,innovate and capitalise on growth opportunities were seemingly stifled by low confidence and lack of long-term security.As a thriving London drives prosperity nationwide,this sentiment provides a good indicator of the pressur

5、es felt across the UK.Rising cost pressures continued to shape decisions for businesses,with increased operating costs such as energy and fuel,directly impacting decisions to raise prices,invest and hire new staff.Many decisions were delayed rather than cancelled,as firms maintained cashflow discipl

6、ine and adopted a“wait-and-see”approach.Cost rises added further pressure to Londons businesses,which are already threatened by planned increases to the National Living Wage and National Minimum Wage,and proposals for a new tourist tax on the capitals competitiveness,as revealed by the Chancellor in