Deloitte calls on UK businesses to drive growth

 
Elizabeth Fournier
DELOITTE’s senior partner has called on UK PLC to step up its part in helping the country return to growth, telling firms it’s time to “step forward”.

“[There are] UK corporate cash reserves of some £750bn; low levels of public trust in big business; an eastward shift in global demand; and record levels of public and personal debt,” said Sproul. “All point to the need for a recovery that has to be corporate-led.”

Sproul was speaking as the firm revealed revenues have continued to bounce back, after it returned to growth in 2011 following several years of stagnation.

Deloitte’s UK arm posted an 11 per cent rise in revenue for the year to 31 May, bringing in a total of £2.3bn compared to £2.1bn the previous year. Profits distributable to the firm’s partners edged up to £569m, a 6.3 per cent increase on last year’s £535m.

Sproul called the results “a robust performance in what continues to be an uncertain economic environment.’