Business confidence boosted by plans to re-open UK economy

08 Apr 2021

A survey carried out by the Institute of Directors (IoD) has revealed that confidence amongst UK businesses has been boosted by plans to re-open the UK economy.

The IoD's latest confidence tracker found that business leaders' net optimism in the outlook for their organisations rose from +36 to +41. From 12 April, non-essential businesses, personal care businesses, indoor leisure facilities and gyms, amongst other firms, are permitted to re-open following the latest lockdown in England. Different rules apply in Scotland, Wales and Northern Ireland.

62% of company directors polled said the recent Budget had helped improve prospects for economic recovery.

However, the survey also found that adjusting to new trading terms with the EU is having a negative impact on business.

Commenting on the survey, Tej Parikh, Chief Economist at the IoD, said: 'The roadmap to re-open the economy, the successful vaccine rollout and the Budget have all buoyed directors' confidence in the first quarter.

'Extensions to furlough and other reliefs in the Budget have staved off fears of an impending cliff edge in support measures. As the roadmap progresses, firms can now rescale over the spring and summer months with the cushion of the government's economic package still beneath them.'

Register for our Monthly Newsletter -

Why not register to receive our Monthly Newswire?

Once a month we'll send you an email packed full of essential business news and handy tax tips to help save you money.

Sign up today ยป

Tel: 01749 685000

Email:

Chalmers HB
20 Chamberlain Street
Wells
Somerset
BA5 2PF


Contact us | Credits | Accessibility | Disclaimer | Help | Site map |

© 2024 Chalmers HB. All rights reserved.
We use cookies on this website, you can find more information about cookies here.

Chalmers HB Limited, Registered in England, Registered number 4233537, Registered Office: 20 Chamberlain Street Wells Somerset BA5 2PF. Chalmers HB Audit Limited, Registered in England, Registered number 9739736, Registered Office: 20 Chamberlain Street, Wells, Somerset BA5 2PF.