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Confidence in UK economy has ‘returned to positive figures’, IoD finds

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Business leaders’ confidence in the UK economy has ‘returned to positive figures’, and has risen to its highest level since Article 50 was triggered, a survey carried out by the Institute of Directors (IoD) has found.

The IoD’s poll of 700 company directors revealed that the balance of business leaders who stated that they are optimistic in regard to the UK economy has risen to 1%.

Directors’ confidence in their own businesses also rose, increasing to 47%, said the IoD.

However, the Institute warned that positivity is being ‘held back by labour shortages’, alongside the ‘burden of complying with government regulations’.

Commenting on the survey’s findings, Tej Parikh, Senior Economist at the IoD, said: ‘After nearly a year of economic pessimism winning out among business leaders, the scales have tipped gently into the positive.

‘It seems likely that meaningful progress in Brexit negotiations since December has brought some much-needed reassurance.

‘We urge the government to provide further detail on its proposals for the UK’s future trading and regulatory relationship with the EU, and to iron out its initiatives to narrow the skills gap and enhance business productivity through the Industrial Strategy.’

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