BURNING ISSUES
TWIN BUGBEARS HOLD SWAY
The tax regime and economy remain in the spotlight as glaring burning issues
The persistent tax burden remains the foremost business concern for the seventh consecutive month, entrenching the challenges faced by the corporate community. In August, 48 percent of polled executives cited high taxes as their primary concern – a slight decline of two points from July (50%).
In the latest LMD-PEPPERCUBE Business Confidence Index (BCI) survey, state sector red tape retains its spot as the second most pressing issue for the third consecutive month with three in 10 (30%) respondents identifying it as a major worry – a drop of five points from the month prior.
According to the exclusive survey conducted in the first week of August, inflation holds on to third place with nearly three in 10 (28%) expressing concern, which reflects a two point drop from July.
Sharing third place is interest rates, which re-emerges as a key issue with 28 percent citing it as a challenge. And rounding off the top five is brain drain, identified as a burning issue by around a fifth (21%) of the sample population.
On a national scale, a large majority (77%) continue to view the economy as the foremost issue – an increase of six percentage points from July.
Anxiety over the cost of living persists with 43 percent citing it as a burden – although this marks a notable 14 point decline from the previous month.
Meanwhile, brain drain moves up the rankings to third place with 22 percent (up six points from July) of poll participants flagging it as a worry.
The education system and political culture share fourth place, each named by 17 percent as burning issues.
