SHROPSHIRE Chamber of Commerce is backing a four-point plan for the new Prime Minister to put in place to deal with the economic issues the country is facing.

The British Chambers of Commerce wrote to Rishi Sunak and Liz Truss, the two Conservative finalists in the Conservative Partty leadership battle, about the plan that needs to be put in place to tackle the 'huge challenges' the economy is fronting.

The letter from director-general Shevaun Haviland said: "This contest is happening amid huge challenges facing our economy.

"Having made it through the pandemic, businesses are now battling labour and skills shortages; soaring energy, raw materials and other costs; and supply chain challenges."

Richard Sheehan, chief executive of Shropshire Chamber, added: "The results of our own quarterly economic survey, published earlier this month, showed that Shropshire’s economy is on a knife edge right now.

"Whoever wins the leadership election must focus on reversing these damaging trends and pressures, and fix the fundamentals to support growth."

The four points that the Chamber has highlighted are the priority areas the next Prime Minister needs to focus on include reducing taxes to help firms manage cost pressures; reform the UK’s training and immigration system so companies can find the staff they need; provide incentives for firms to build a green economy – and support them through the transition and ensure businesses have the support they need to take advantage of global trading opportunities

Mr Sheehan said that there is 'no doubt' that the biggest challenge the economy is facing right now is inflation, and this impacts business running costs.

He added: "Nearly three quarters of businesses tell us they are experiencing recruitment issues – companies want to expand, but in many cases are simply unable to find the right people."