The Analysis News & Opinions
Opinion
‘UK growth will lag behind G7 counterparts’
The UK’s economic growth will be outpaced by all other G7 advanced nations this year, and Brexit remains the single biggest risk on the horizon, according to our new report. The Financial Institutions Sentiment Survey
shows firms across the sector are concerned about prospects for the UK economy over the coming year, in particular if compared to the outlook for other G7 nations, although on balance most firms expect the economy to remain resilient overall. Almost three-quarters (70%) of firms
across the sector say they worry that UK economic growth will be weaker this year than in any of the other G7 nations – a dramatic worsening of sentiment compared to 2017 when just under a quarter of respondents (23%) held that view. Half of the firms surveyed (48%) say they
expect UK growth to stay at 2017 levels, while a third (29%) expect it to worsen and a fifth (23%) believe growth will improve. The risk weighing most heavily on the
minds of financial services firms is Brexit. More than half the firms surveyed (55%) say that they are worried about the effects of leaving the EU, with a quarter (28%) stating it is the most significant risk they are facing over the coming year. A quarter (24%) say they are now less
optimistic about Brexit than they were 12 months ago, while two thirds (62%) say their opinion has not changed. The issue that appears to be the biggest
worry for the sector in relation to Brexit is cross-border access. Almost half the respondents (48%) say this is the aspect of the UK’s exit from the EU that would cause them the most concern if not agreed during 2018; while a quarter (25%) highlight regulation and regulatory equivalence, and one in 10 (10%) mention worries about a UK-EU trade deal.
Robina Barker Bennett Managing director, head of financial institutions, Lloyds Bank Commercial
The real online
The Online Revolution was set to go live as CCRMagazine went to press, amidst the major announcement that Lantern is to be the new website and Credit Leaders .Network’s main sponsor. The totally redesigned site will be officially
launched on Monday 7 May, when all industry professionals will be able to build their own online profile, as an ‘online face’ for the industry. They will be able post their own updates and make connections with other professionals to follow their updates and private message directly. The Credit Leaders .Network will allow
users to: l Build an Online Profile unique to the credit industry, with their own home page. l Make Status Updates to share thoughts and insights with your .Network contacts. lCommunicate with the other professionals in your .Network on an ongoing basis. l Message professionals from other .Networks Groups. l See notifications of all relevant events on the .Networks so you do not miss out. Meanwhile, the completely redesigned
CCRMagazine.com site is built on a modular basis, to allow for easy accessibility across the
Revolution goes live
CCRMagazine.com
In association with
Credit Leaders .Network
In association with
range of platforms that users now require to research the key news and analysis. It provides easy access to the online
version of CCRMagazine and the Credit Leaders .Network, as well as all the regular breaking news stories that you expect from
CCRMagazine.com. Stephen Kiely, editor of CCRMagazine,
said: “This is a huge moment for CCR, which has been many months and even years in the planning. We now hope all our readers will go online to
CCRMagazine.com, look through the new site and set yourself up a profile on the Credit Leaders .Network – make your first connections and your first post. Then let us know what you think.”
Restons to partner with the online Revolution!
Major legal services provider Restons has joined the Online Revolution by agreeing to become a major partner of the Credit Leaders .Network, where they will host a .Network Group dedicated to answering users’ legal questions. The Credit Leaders .Network Group will
be available for all site users to join, to share their knowledge, network, and to have their legal questions answered. Stephen Kiely, editor of CCRMagazine,
said: “For a considerable time now, Restons have been an outstanding supporter of
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www.CCRMagazine.com
CCRMagazine, so we are now extremely proud that they have agreed to be part of this major new venture. “I am sure that readers will be eager to
take advantage of the networking and legal advice on offer, so I would encourage everyone to go to
www.CCRMagazine.com and click through to the .Network Group.”
May 2018
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