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18 Sep 2025

Cargo bikes are fast becoming a cleaner alternative to diesel vans in London, offering a sustainable way to make deliveries and cut the city’s dependence on polluting vehicles, new...

18 Sep 2025

Cycling Scotland has highlighted the crucial distinction between legal and illegal e-bikes, warning that confusion risks undermining public trust in a technology that is helping thousands switch...

17 Sep 2025

Cycling retail specialists including the ACT has praised a recent Guardian feature on the topic of e-bikes and the use of illegal and unregulated models, with the piece providing...

15 Sep 2025

Dublin-based cycle workshop the Rediscovery Centre has achieved Cytech accreditation for its workshop team after completing advanced training with Activate Cycle Academy, an Oxford-based...

12 Sep 2025

Norwegian company Ampliuz is aiming to replicate the widespread network of EV chargers with a dedicated public charging system for e-bikes.

11 Sep 2025

With D2C bike brands facing significant headwinds, local bike have seen modest but real improvements in profits and prospects. Partnerships like ACT and Bikmo are helping independents strengthen...

5 Sep 2025

The average cycle trip in England lasted 24 minutes in 2024, remaining consistent with the previous year, new figures from the National Travel Survey have revealed.

4 Sep 2025

A panel event hosted by ACT Director Jonathan Harrison will focus on retailer experiences and how they are adapting to a number of challenges within the sector at this year’s inaugural...

3 Sep 2025

Cycling just two miles to work can improve heart health by up to 30 per cent compared with driving, new research has shown.

3 Sep 2025

The UK is far behind most European countries in e-bike sales, according to new research from ACT member Paul's Cycles.

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Bira warns of 'troubled times ahead' despite interest rate cut

Posted on in Business News , Cycles News

ACT parent company Bira has warned that retailers across Britain face troubled times ahead despite today's Bank of England interest rate cut to 4.5%, as the Bank halves its growth forecast for 2025 to just 0.75%.

Bank of England

Andrew Goodacre, CEO of Bira, said: "The reduction in interest rates was expected and is welcome news for the retail sector. We have consistently maintained that rates have unnecessarily remained high for longer than required, and we anticipate this reduction will help boost consumer confidence."

However, Bira expressed serious concerns regarding the Bank's revised economic growth projections. The forecast has been halved from the previous estimate of 1.5% to just 0.75% for 2025, despite recent government initiatives.

Andrew Goodacre, CEO of Bira
Andrew Goodacre, CEO of Bira

Mr Goodacre said: "The Bank's economic growth outlook is deeply worrying. Independent retailers are still grappling with the triple impact of rising costs from last year's budget. While the Bank of England is taking steps to stimulate growth through rate cuts, more immediate action is needed from the government to support high street businesses."

The Bank's decision comes amid rising inflation expectations, with projections showing inflation could reach 3.7% in the third quarter of this year. Additionally, unemployment is forecast to increase to 4.8% over the next year, highlighting the challenging economic environment facing retailers.

Bira emphasises that while long-term infrastructure projects are important, immediate support for high street businesses is crucial.

He added: "Long-term projects like the third runway at Heathrow will do little to address the immediate challenges facing high street retailers this year. We need to see concrete government plans that will deliver immediate support to our sector."

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