Finance and Accountancy Briefing

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Business Confidence Monitor optimism for 2011, despite last quarter's GDP slump


This quarter’s ICAEW/Grant Thornton UK Business Confidence Monitor (BCM) suggests there are some grounds for optimism in 2011, despite last quarter’s surprising decline in GDP.

As our report indicates, businesses now have the foundations in place to grow, something which could not be said a year ago. However, the path to recovery will continue to be slow and bumpy for at least the next 12 months.

As its strategy to reduce the fiscal deficit is implemented, the coalition government needs to be doing all it can to support private sector growth.

Next month’s budget will be critical in demonstrating the government is making clear, tangible progress in reducing the regulatory burden, simplifying the tax system and making it easier for companies to borrow, invest and hire. Together, this will demonstrate that the UK is truly open for business.

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