London’s business community remains surprisingly upbeat about the city’s economy and outlook for the next 12 months, according to a survey of professionals by Santander.
The poll found that just 9% of local business people are pessimistic about London’s economy; in contrast, almost half feel that despite Brexit, London’s economy is unchanged and 45% are optimistic, including 13% who are ‘very’ optimistic. Just 16% believe the outlook for business will worsen over the next 12 months and the majority are hopeful about prospects for local employment.
The research of local business sentiment was conducted to support Santander’s Breakthrough Red Box week-long business event to showcase support for business in London.
The new rules aim to prevent companies overpaying tax and to increase the competitiveness of the eurozone.
A global survey by The Economist Intelligence Unit and Standard Chartered finds that nearly half the firms participating believe they will be more efficient within five years, while one in three sees them becoming longer and more complex.
The US bank, which has said that many of its EU operations will be moved from London post-Brexit, is doubling its workforce based in the Irish capital.
The European Commission plans to issue legislative proposals next month affecting the capital’s clearing businesses, reports the Financial Times.