- CFOs’ optimism rises to a 12-year high, according to latest Deloitte survey...
- The Brexit trade deal, which came after the survey closed, should be positive for business confidence. CFOs saw a no-deal outlook as a significant risk to the economy and Brexit as having far less impact on their own business than the economy as a whole
- Half of CFOs think it will take until the last quarter of 2021 or later for their own revenues to return to pre-pandemic levels
- Finance leaders expect levels of home-working to rise five-fold by 2025 compared to pre-pandemic levels, and forecast higher levels of taxation and regulation in the longer term
Finance leaders expect a return to growth in 2021 with optimism rising to a record high*, according to Deloitte’s latest CFO survey. Despite the surge in business optimism, half of CFOs do not expect demand for their own businesses to recover to pre-pandemic levels until the last quarter of 2021 or later.
The Deloitte CFO survey for Q4 2020, which gauges sentiment amongst the UK’s largest businesses, took place between 2nd December and 14th December 2020, so before new COVID restrictions announced on 19th December and the Brexit deal on 24th December.
A total of 90 CFOs participated in the latest survey, including CFOs of 12 FTSE 100 and 44 FTSE 250 companies. The combined market value of the UK-listed companies that participated is £308 billion, approximately 13% of the UK quoted equity market.
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