The following is the UK CFO survey 2020 From Deloitte recommended by recordtrend.com. And this article belongs to the classification: Deloitte Consulting , Investment & Economy, research report.
The UK chief financial officer expects the business to return to growth and sustainable development in 2021. The latest Deloitte CFO survey was conducted from December 2 to 14. On December 19, the British government announced new restrictions and signed the UK EU trade agreement on Christmas Eve.
CFO sentiment reached its highest level in 12 years in the fourth quarter due to the prospect of pandemic vaccination and the return to growth in 2021. CFOs are more optimistic about the outlook for margins than at any time in the past five years. Although brexit talks continue and sentiment rally continues, two-thirds of CFOs believe that a no deal brexit will have a serious negative impact on the economy. Only 19% of CFOs hold similar negative views on the impact of the trade agreement, which means that the news announced after the survey may improve CFOs’ mood. However, none of this will return to normal quickly.
CFOs still have a high view of uncertainty, with 78% of respondents believing that restrictions on activities will continue in the first half of 2021, and 57% of CFOs hoping to permanently remove restrictions on activities in the third quarter of this year. Despite the improvement in business prospects, two-thirds of CFOs still believe that their revenues will not return to pre pandemic levels until the second half of 2021 or later.
The pandemic will trigger a fundamental change. CFOs predict that by 2025, the level of working from home will be five times higher than before the pandemic, and the diversification and “close” growth of the supply chain will be more and more. In the long run, the CFO expects the government to take more action in the economy to strengthen regulation and raise corporate and personal tax rates. Growth may recover in 2021, but businesses will operate in a changing world.
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