Business confidence among FDs has plummeted in the space of six weeks with over two thirds predicting that a UK recession is just around the corner.
This week’s Big Question, carried out for Accountancy Age by Reed Accountancy Personnel, found that 68% of FDs believed the UK economy was on the brink of recession. When asked about the likelihood of a recession in The Big Question at the start of July only 41% of FDs believed a recession would happen by the end of the year.
‘The recession is just around the corner and the government is blind to it,’ said Kevin Tomlinson, FD of manufacturer Signam.
Paresh Sanat, of SBJ Employment & Safety Services, added: ‘Manufacturing output is down and the recent job losses are a clear indication that recession is not far away.’
Only 21% of FDs believed a recession was not looming. ‘The strength of service industries should offset a weak manufacturing sector,’ said one optimistic FD who asked to remain anonymous.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel