TAXING TIMES ARE BACK!

Taxes resurface and stir concerns among biz people for the umpteenth time

The focus has shifted once again with high taxes resurfacing as a major business concern, leaving the corporate community grappling with challenges – possibly fuelled by expectations of budget relief.

Fifty-one percent of executives cite high taxes as their primary concern, reflecting a notable 16 point increase from January (35%).

In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, inflation – once a dominant burning issue – takes a backseat ranking of second with nearly a third (31%) of respondents expressing anxiety – that’s a six percentage point increase from the previous month (25%).

According to the exclusive survey conducted in the first week of February, also in second place is a new concern – viz. state sector red tape – with 31 percent of survey participants citing it as a concern – from 15 percent in January.

Poor workforce standards, likely linked to the ongoing brain drain, takes third place with a little over a quarter (27%) highlighting it as a concern. Interest rates roundup the top five with a 25% percent citing.

On a national scale, a large majority (77%) continue to view the economy as their primary concern, marking a marginal increase of two percentage points from the month prior.

Anxiety about the brain drain remains high with its impact growing from 15 percent in January to a whopping 35 percent in February. Meanwhile, the cost of living drops to third place with a notable 25 percent decrease from 54 percent in the month prior to 29 percent in February.

The country’s education system ranks fourth while the challenges faced by daily wage earners complete the top five – highlighted by 23 and 17 percent of respondents respectively.

– LMD