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News Index
The majority of business leaders expect the coalition Government to create a
more favourable environment for British companies and agree that austerity
measures taken now will help engender a more competitive business environment in
the years to come, according to a new survey by Barclays Corporate.
The survey found that 86 % of respondents expect the coalition Government to
create a more favourable business environment in the long term, although this
dropped to 59% when questioned about short term prospects.
Over three quarters of business leaders expect better business conditions within
the next three years.
An overwhelming majority (87%) of respondents were in favour of spending cuts by
the Government, as opposed to increased taxes, in order to reduce the national
deficit, and two thirds believe these cuts would have only a mildly negative
impact on their business.
Nine per cent of respondents believe the spending cuts would have a stronger
negative impact on their business, whereas 15% believe there will be no impact
whatsoever.
The survey also revealed the expected impact of cuts on businesses would be
spread across a wide range of Government departments, with particular concern
around transport, higher education and Regional Development Agencies.
Commenting on the survey findings, Ian Stuart, Managing Director, Barclays
Corporate, commented: “This survey shows that UK business leaders are pragmatic
about the need for deficit reduction, recognising that there will be pain
inflicted by public spending cuts, but that this is a price worth paying for
long term stability and profitability. No one is expecting a quick fix.
"Businesses believe that these measures will eventually lead to a more
favourable operating environment for UK companies and increase the UK’s
competitiveness globally.”
Source: Credit
Control Journal
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