Britain's bosses share concerns of the public over deficit
The top issues facing Britain today according to the 2012 Captains of Industry study conducted by Ipsos are the Government deficit (mentioned by 23%), Lack of economic growth (22%) and the Eurozone (20%).
The top issues facing Britain today according to the 2012 Captains of Industry study conducted by Ipsos are the Government deficit (mentioned by 23%), Lack of economic growth (22%) and the Eurozone (20%). This is marked change from 2011 when the Eurozone was the most frequently mentioned issue, identified by 43%.
Over half the Captains interviewed (57%) feel the general economic condition of the country over the next 12 months will remain the same, with a further third (31%) expecting economic conditions to improve. Just (12%) think the economy will get worse. This represents a considerable improvement from last year when 56% of Captains felt the economy would get worse.
Over half the Captains interviewed (57%) feel the general economic condition of the country over the next 12 months will remain the same, with a further third (31%) expecting economic conditions to improve. Just (12%) think the economy will get worse. This represents a considerable improvement from last year when 56% of Captains felt the economy would get worse.
Economy and business challenges
A substantial proportion of Captains continue to support the UK Government’s economic policies with 79% agreeing that these will improve the economy in the long term. There is, however, agreement among almost three-quarters of Captains (72%) that the UK is facing a prolonged period of stagnation. A majority of Captains (68%) expect it will be at least two years until the UK economy to begins to grow in a significant way again. Almost two-thirds think that Technology, Media & Telecoms sector represents the greatest growth potential in the UK over the next 12 months (cited by 64%). This is followed by Construction (36%) and Services/retailing (26%). Conversely, the sector Captains see as having the least potential for growth is Financial/banking/insurance (41%).When making judgments about a company or organisation three-quarters (75%) say acting with honesty and integrity is extremely important to their decision. This is followed by the quality of products and services offered (rated as extremely important by 51%) and the quality of management (50%).
Investment outlook
Looking internationally China leads as the most attractive country for investment, selected by 23% of Captains. It is followed jointly by USA and Brazil (each 17%). The UK is mentioned by just 8% of Captains interviewed. However, when asked specifically about Britain, 65% agree it is an attractive place to invest.Most Impressive Businessperson
Sir Richard Branson is top with 13% (he got 12% last year, so not much change). Joint second are Justin King (Sainsbury’s) and Sir Martin Sorrell (WPP) on 9%. 4th place is Sir James Dyson on 7%. 5th place is Stephen Hester (Royal Bank of Scotland) on 6%.Ipsos Captains of Industry Survey 2012 from Ipsos
The Mayor of London, Boris Johnson, said:
"We are still emerging from a prolonged downturn, times are tough, but there is good reason to believe UK PLC, with London as its motor of growth, is ready for the challenge ahead. In 2012 brand Britain surpassed all expectations. From the Diamond Jubilee to the Olympic and Paralympic Games London showed the world Britain is open for business - that there are no limits to what we can achieve. In 2013 we must harness that confidence in the drive for jobs and growth. That means staying the course on the tough decisions that will benefit our children and grandchildren. But it also means delivering on house building, on infrastructure investment, on a London living wage, on a new hub airport, as well as promoting our burgeoning tech sector, and continuing to create the right conditions for business to flourish."Chief Executive of Ipsos, Ben Page, said:
“Business continues to support the Coalition's economic policies, but is pessimistic about growth in the short term. However they are less worried about the Eurozone than last year. Captains of industry see the best investment prospects in US and China, although most remain bullish about Britain's long term future.”
