Firms fear bribery regulations

A quarter of middle managers believe the Bribery Act is affecting Britain’s competitiveness, according to research out today from Ernst and Young. Of those worried, 78 per cent cited the effects of losing out to competitors paying bribes and 22 per cent the cost of compliance placed on firms. However, Ernst and Young’s John Smart argued they were wrong to be concerned. “With the right policies, procedures and systems in place, British companies have nothing to fear, and neither do their customers,” he said.