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Profession divided over health of economy

Opinions in the accounting profession are sharply divided over the condition of the economy over the next year, according to the Accountancy Age/Mercer Gray Quarterly Index.

Link: ITEM Club warns of more tax rises

The survey, conducted among readers of Accountancy Age, showed that while 40% of those questioned thought that conditions have stabilised, or recovery had begun, a third of respondents didn?t expect to see any recovery in business conditions until next year.

The survey of more than 500 readers also asked for their feelings on the current pensions crisis. Unsurprisingly two-thirds of those asked thought that their personal pension provision would now be insufficient to provide for their retirement. In addition nearly nine out of ten respondents thought that it was time for the government to intervene and address the situation before it gets completely out of control. Questions on redundancy and recruitment seemed to indicate that business conditions were indeed levelling off.

Over 80% of readers asked felt unconcerned about the threat of redundancy in the next six months but three quarters still were not confident the company would be recruiting additional finance staff over the same time period.

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