BURNING ISSUES
TWIN HEADWINDS INTENSIFY
Dual pressures of taxation and the economy persist as corporate challenges
The tax burden weighs heavily as a business concern for the ninth consecutive month, underscoring a persistent challenge facing the corporate community. In October, 61 percent of polled executives cited high taxes as their primary concern – a marginal one point increase from September (60%).
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, workforce standards rank second among key concerns with three in 10 (30%) respondents identifying it as a major worry – that’s a notable 14 point rise from the month prior.
Interest rates move up to third place on the anxiety scale with 27 percent citing them as a concern (that’s 4% less than in September).
According to the exclusive poll conducted in the first week of October, inflation and high utility costs are tied at No. 4, each identified as a burning issue by just over a quarter (26%) of the sample population.
On a national scale, a large majority (78%) continue to view the economy as the country’s foremost issue – a two point decline from September. Anxiety over the cost of living eased notably with marginally in excess of half (52%) viewing it as a burden – down 13 points from last month’s 65 percent.
Meanwhile, the brain drain climbs to third place in the rankings, cited by a fifth (20%) – that’s a five percentage point hike. And the education system follows in fourth place with 13 percent expressing concern while the plight of daily wage earners is cited by close to one in 10 respondents (8%).
