Just half of Britain’s boardrooms expect the economy to improve

Oliver Smith
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CONFIDENCE in the economy in Britain’s boardrooms is collapsing, with a third of board members believing that global economic conditions will decline, up from just five per cent last year.

Meanwhile just 45 per cent of board members expect the UK economy to improve over the next year, down from 80 per cent in December 2013, according to the results of the FT-ICSA Boardroom Bellwether survey of FTSE 350 boards.

A change in government is unlikely to improve the sentiment as the current UK government is still perceived as being more business friendly than Labour, with just two per cent of boards regarding the opposition as business friendly.

In terms of specific industry sectors, 35 per cent of the boards surveyed predict improvement in their sectors and 29 per cent a decline, a worsening in confidence from December when the results stood at 56 per cent and 13 per cent respectively.