Brexit remains biggest concern for UK Businesses
16th October 2017
Brexit is the top risk facing UK businesses, according to the latest survey of CFOs by Deloitte.
It found confidence among finance chiefs has rebounded since the general election, but Britain’s departure from the EU is still expected to hit investment and hiring.
According to 60% of those surveyed, the business environment will deteriorate when the UK leaves the EU, down from 72% in the previous quarter. Some 14% foresee a better long-term business environment, up from 8% in the previous survey.
Just over a quarter of CFOs said that they were more optimistic about the prospects for their company than they were three months ago, up from 18% at the end of the second quarter. The level of uncertainty facing their business was rated as high or very high by 34% of respondents, down from 43% in the previous quarter. Meanwhile, some 92% of respondents also said they expect the Bank of England to hike the base rate in the next 12 months.
The Times, Page: 40 The Guardian, Page: 20 The Independent, Page: 56 Yorkshire Post, Page: 15
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