BURNING ISSUES
DUAL BURDENS LOOM LARGE
The tax regime and economy remain under the spotlight as glaring burning issues
The persistent tax burden remains an unrelenting business concern for the eighth consecutive month, adding to the challenges faced by the corporate community. In September, 60 percent of polled executives cited high taxes as their primary concern – a sizeable increase of 12 points from August (48%).
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, interest rates occupy second place with just under one in three (31%) respondents identifying it as a major worry – up three points from the month prior.
According to the exclusive poll conducted in the first week of September, inflation holds steady in third place with nearly three in 10 (28%) expressing concern – unchanged from August.
High utility costs emerges as the fourth major concern with 18 percent of respondents citing it as a challenge. Tied in fifth place are poor workforce standards, and the financial instability of businesses and consumers – each flagged as a burning issue by 16 percent of the sample population.
On a national scale, a large majority (80%) continue to view the economy as the foremost issue – an increase of three percentage points from August.
Anxiety over the cost of living surged with 65 percent identifying it as a burden – this represents a sharp 22 point increase compared to last month’s 43 percent.
Meanwhile, the education system rises in the rankings to third place with almost a fifth (18%) flagging it as a worry – that’s a one point increase.
And the brain drain ranks fourth with 15 percent while the lack of national policy and security share fifth place, each cited as a burning issue by around one in 10 respondents (9%).
