Sharp fall in business confidence warn employers

Employers are reviewing investment plans after a “sharp fall” in confidence among senior business leaders according to new research by the CBI.Sharp fall in business confidence warn employersThe CBI interviewed 122 business people and found 70% were less optimistic about the future than in August.

Two out of five were freezing recruitment or laying off staff.

CBI director general John Cridland, speaking on the eve of the organisation’s conference, said it had been a year of “disappointed expectations”, with the eurozone crisis adding to the problems of British businesses.

While Mr Cridland supported the coalition government’s determination to cut the deficit, he urged the Chancellor George Osborne to unveil a “Plan A Plus” in his autumn statement later this month.

“We’re at a critical tipping point, with the eurozone crisis reaching a crescendo and UK growth forecasts being revised down,” said Mr Cridland.

“The chancellor needs to use his autumn statement to boost business confidence with game-changing new ideas,” he added.

The CBI leader said the government should bring forward certain infrastructure projects, which would “leverage” billions of pounds of private sector investment.

‘Heavy lifting’

“The chancellor has to announce plans for growth and the government needs to do more of the heavy lifting which is needed. There is no support for additional public spending because we think that would reduce growth rather than enhance it,” he added.

Businesses gave their reasons for pessimism as the eurozone crisis, weak consumer demand, slow growth and instability in the financial markets.

But four out of five business leaders supported the government’s deficit reduction plans.

Ian McCafferty, the CBI’s chief economic adviser, said uncertainty about the eurozone and other factors had affected confidence and he added: “Firms are holding off taking on new staff.”

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November 21, 2011 · Home Based Jobs · One Comment
Tags: , , , ,  · Posted in: Earn Money, Employers, Part Time Employment, Positive Employment, Uncategorized, Unemployment Rises

One Response

  1. Paul Sanchez - December 6, 2011

    Happen to be trying to find this and learned much more than anticipated in this article. Thanks.