BURNING ISSUES
HIGH TAXES STILL A CONCERN
The high tax regime and the economy continue to be the most cited concerns
The mounting tax burden continues to top the list of business concerns, intensifying the challenges confronting the corporate community – in July, 50 percent of polled executives identified high taxes as their primary worry, which represents a nine point increase from June (41%).
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, state sector red tape maintained its position as the second most pressing issue with 35 percent citing it as a major concern – up one point from the month prior.
According to the exclusive survey conducted in the first week of July, inflation surged to third place with three in 10 (30%) expressing concern, which is a four point rise from June.
Concerns about poor workforce standards climbed to fourth position with slightly over a quarter (26%) of respondents citing it as a challenge. And financial instability rounded up the top five with 21 percent naming it as a burning issue.
On a national scale, a large majority (71%) continue to view the economy as the foremost challenge although this marks a dip of three percentage points from June.
Anxiety over the cost of living remains a concern too with 57 percent citing it as a burden – that’s a meagre one point increase from the previous month.
Meanwhile, the education system climbed up the rung to rank third with 18 percent flagging it as a worry (unchanged from June).
The brain drain held steady in fourth place with 16 percent saying it is a worry while the political culture made the top five cut – it was mentioned by 13 percent of respondents.
