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Ipsos MORI Captains of Industry Study 2016

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The annual Ipsos MORI Captains of Industry study finds that at the time of interviewing, 58% of Captains felt that since the referendum the decision to leave the EU has had a negative impact on their business. A third of Captains (31%) didn’t feel that Brexit had made any difference to the business situation for their company and just 11% feel it has made a positive impact.

Business leaders of the FTSE 500 anticipate a more negative business situation in the next 12 months. Two thirds (66%) feel the business situation of their company will be more negative post Brexit, with only 13% suggesting it will have a positive impact. However, the data suggests that this could improve in the long term, with a third of those interviewed (32%) feeling they would see a positive impact on their business in five years’ time and 45% expected to feel a negative impact.

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Ipsos MORI Captains of Industry Study 2016

  1. 1. . FT release Captains of Industry 2016
  2. 2. . Captains of Industry 2016  Topline data shown here are based on a total of 114 interviews conducted with Captains of Industry;  Fieldwork was conducted between 12th September and 9th December 2016;  Unless otherwise stated, each question is based on all Captains of Industry answering;  Where data does not total 100%, this is due to rounding or multi- coded responses. 2
  3. 3. . Brexit impact on business situation CEU2A. …do you think that the business situation of your company is / will be more positive or negative so far compared to what it would have been if the UK had voted to stay in the EU, or has it made no difference? 3 2% 11% 18% 54% 11% 4% A lot more positive A little more positive Makes no difference A little more negative A lot more negative No opinion 2% 9% 31% 45% 13% 1% 9% 23% 22% 38% 7% 2% Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Since the referendum In 12 months time In 5 years time
  4. 4. . Over half of Captains strongly agree that how well the government handles Brexit negotiations is vital to their business C3. To what extent do you agree with the following statement? How well the government handles Brexit negotiations is vital to my business. 4 54% 31% 8% 7% 1% Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree No opinion Base: British Captains of Industry (114) Interviewed Sept – Dec 2016
  5. 5. . 30% 14% 10% 7% 7% 6% 6% 5% 5% 5 Nearly 1/3 of Captains are not currently pursuing any actions as a result of the UK leaving the EU CEU4. What action, if any, is your business currently taking as a result of the decision to leave the EU? Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Nothing Impact of different renegotiations Moving business outside UK Looking at currency changes / stability Being more cautious / Pausing growth Engage with government departments Providing reassurance to foreign staff Focussing on growth outside the UK Planning financial strategies Top mentions
  6. 6. . Majority of Captains agree that they are confident that their company can adapt to the consequences of leaving the EU CEU8. To what extent do you agree or disagree with the following statements about the UK’s relationship with the EU? 6 48% 25% 2% 2% 47% 30% 25% 18% 4% 20% 27% 29% 16% 36% 37% 10% 10% 13% I am confident my company can adapt to the consequences of leaving the EU The decision to leave the EU is a significant risk to my company The decision to leave the EU will reduce the level of regulation on UK businesses I am confident in the ability of the government to negotiate the best deal possible for UK businesses with the EU Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree No opinion Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Responses less than 3% are not shown
  7. 7. . 54% 47% 16% 13% 9% 9% 8% 8% 7 Most important things to achieve during Brexit negotiations CEU3. During the negotiations to leave the EU, what are the most important things for your business for the UK to try to obtain? Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Movement & access of skilled labour Control & clarity on immigration Being a trading partner with Europe Tariff agreement Clarity Support for city / London Passporting rights Securing free trade and single market Top mentions
  8. 8. . A fifth of Captains disagree that in the long term the government’s policies will improve the state of the British economy C3. To what extent do you agree with the following statement? In the long term, this government's policies will improve the state of the British economy 8 General election General election General election General election 45% 21% Year 9% 36% 32% 19% 2% 2% Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree No opinion General election Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 0 10 20 30 40 50 60 70 80 90 100
  9. 9. . C3. To what extent do you agree with the following statement? Opinion on the Government’s industrial strategy 3% 33% 46% 13% 5% The government’s new industrial strategy will effectively encourage economic growth in this country Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree No opinion Support more training / skills development Support regional development Encourage investment in infrastructure Reduce regulation Support trade deals Selective investment in key industries 19% 16% 13% 11% 10% 9% 9 C.100. And, what policies do you think the government’s industrial strategy should include? Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Base: All British Captains of Industry who expressed an opinion on the government’s new industrial strategy effectively encouraging growth (108) Interviewed Sept – Dec 2016 Top mentions
  10. 10. . C101. From where do you believe the best growth opportunities will come for your business over the next 5 years? 10 Technology and Digital are considered to be the main areas for business growth opportunities 17% 14% 13% 9% 9% 8% 7% Technology & Digital Asia, China & India UK Consumer Confidence New Links in Europe International Expansion Housing Supply North America Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Top mentions
  11. 11. . Reducing the level/complexity of regulation and keep it easy to recruit EU staff are most important to be successful post Brexit CEU7. Using a scale from 1 to 5 where 1 means it is not at all important and 5 means it is extremely important, please say how important each of the following will be for your business in order to be successful in a post-Brexit UK? 11 10% 29% 1% 32% 35% 18% 7% 28% 25% 41% 18% 12% 26% 29% 12% 21% 38% 12% 26% 2% 13% 41% 2% 7% Reducing the level and/or complexity of regulation Keeping access to the EU single market for my businesses products/services Reduced level of immigration Keeping it easy to recruit EU staff Making it easier to recruit non-EU staff Extremely important Very important Fairly important Not important Not at all important No opinion Base: British Captains of Industry (114) Interviewed Sept – Dec 2016 Responses less than 3% are not shown 11%

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