Captains of industry are confident about the future of their business, but not government economic policy

Britain's business leaders are more optimistic about the economy improving than at any point in the last six years according to Ipsos's annual Captains of Industry survey. However, despite this positive outlook, 70 per cent disagree that the government's policies will improve the state of the British economy. Business optimism In last year's survey only four per cent of respondents believed that the UK economy would improve in 2009. This has risen to over a third (36 per cent), while the number that believe the economic situation will get worse next year has decreased by over two thirds to 30 per cent, falling behind the optimists for the first time since 2003. Captains of industry are also far more positive about the prospects of their own companies, with 53 per cent believing that business will improve in 2010, up more than 30 percentage points on a year ago. Less than one in ten (eight per cent) believe that their situation will get worse. Lack of confidence in government policy In spite of the increased optimism, Britain's business leaders are still unconvinced by the government's response. Only one in five (20 per cent) believe that this government's policies will improve the state of the economy while 70 percent disagree. Further pessimism is evident in concerns about government debt, which is the most important issue facing Britain today according to 48 per cent of respondents. Unemployment (26 per cent) and poor political leadership/lack of confidence in government (25 per cent) come in second and third, further highlighting the negative opinion. Most impressive business person For the fourth time Sir Terry Leahy has won the support of his peers, who have declared him as the most impressive business person of 2009. He beat Sir Richard Branson and Justin King into second and third place respectively. The selection of two retail giants in the top three reflects the positive public opinion towards supermarkets. More than half of British adults (53 per cent) believe that supermarkets have responded better to the economic downturn in the way they treat their customers than any other industry. This demonstrates the ability of Tesco, Sainsbury's and their competitors to understand their customers and continually improve services. Commenting on this year's survey Ben Page, chief executive, Ipsos said:

"There is optimism and confidence amongst the leaders of our most successful businesses on a scale not seen for a number of years. However, while the financial crisis itself is not as big a concern as in recent times it has now been replaced by fears over debt and unemployment, which has further increased negative opinion of the government"

"Sir Terry Leahy's position as Britain's most impressive business person and the ability of the big supermarkets to go from strength to strength despite the difficult economic climate shows us that all businesses can learn something from these retail giants."

Established in 1981 and conducted on an annual basis, the Ipsos Captains of Industry survey is the authoritative view of senior business opinion in Britain today. Respondents are selected from the top 500 companies by market capitalisation, top 500 by turnover, and top 100 by capital employed. Respondents are Chairman, CEO, MD/COO, FD or other board directors.