UK Tax Cuts Do Little to Ease Pessimism Among UK Firms, IoD Says.

According to the Institute of Directors (IOD), UK business leaders are becoming slightly less pessimistic about the economy, although overall sentiment remains negative. The IOD's economic confidence index improved for the fifth consecutive month, but optimism is still low. The recent tax cuts announced by Chancellor of the Exchequer Jeremy Hunt have not significantly boosted confidence, as business leaders are seeking more economic stability. The biggest challenges identified by executives are UK economic conditions, skills shortages, energy costs, taxes, global economic conditions, and compliance with government regulation. [Extracted from the article]

Copyright of Bloomberg.com is the property of Bloomberg, L.P. and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)