The impact of the credit crunch will last well into next year, according to
CFOs, but the long term availability of credit remains positive.
survey showed that most financial leaders expect the credit crunch to last
some time, with 21% expecting an improvement in the fourth quarter of this year
but 50% not anticipating an improvement until the first half of 2009. Some were
even more pessimistic – 11% don’t see conditions easing until the second half of
The survey also showed that the credit crunch is starting to impact on more
businesses, with 73% admitting credit was more costly and 62% finding it
difficult to obtain.
Deloitte partner Margaret Ewing said: ‘Despite reductions in base rates in
December and in February, corporates, like consumers, are facing tougher credit
conditions and, so far, lower base rates would appear not to be easing the
But the longer term outlook is better with most CFOs planning to raise credit
in the next 12 months and more of those surveyed intended to increase gearing
than reduce it.
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Baldwins Accountancy Group has continued investment in the north-east and appointed David Fish as a director in its corporate finance team