10 IN VIEW


Frankly speaking BREXIT ISN’T WORKING by Frank McKenna Downtown Lancashire in Business


There are 40,000 current nursing vacancies in the NHS. The cost to the hospitality sector due to unfilled vacancies is £22bn. Our balance of payments deficit is up. UK productivity is down.


The Construction Leadership Council warned last month that ambitions to improve infrastructure are being hindered by increasing challenges to import essential materials from the EU.


New British inventors, innovators, and entrepreneurs with aspirations to export are having to consider setting up in Europe in order that their products meet EU standards. A combination of unaligned safety regulations and masses of red tape means that for SMEs, exporting from the UK is now just too expensive.


Not all the trials and tribulations of our economy can be placed at the door of Brexit. But much of it can – and if anyone can provide me with a list of the financial benefits we are enjoying, offsetting the long


list of disadvantages we are experiencing, please do so.


Beyond the economy, I would suggest that the political turmoil we have suffered since the fateful referendum six years ago is as a direct consequence of the boosterism and fantasy that convinced 52 per cent of us to leave the biggest single economic market on the planet continuing.


We have to


accept that some meaningful deal will need to be done with the EU


It is hard for this government to concede that to boost investment, create a high growth economy, and export at least as


much as we import – then we have to accept that some meaningful deal will need to be done with the EU.


However, despite her fiscal follies, Liz Truss’ supply-side growth plan had some merit – including her desire to liberalise immigration.


Remainers like me can pretend to be smug and say ‘I told you so’ if we like. But, in attempting to win a second referendum we failed to support a deal that would have saved us from the worst ravages of Brexit. Theresa May is the only person who can rightly say “I told you so.” In hindsight, her deal was a good one.


The challenge now is to encourage a more mature and pragmatic debate about our future relationship with the EU. In the absence of any appetite among political leaders to do so, business must step up and demand a genuine conversation – which concludes with genuine solutions.


A PRESIDENT’S FIRST 100 DAYS by Chris Brown Managing director, Brown & Co


They say there’s nothing more certain than change. The changes we’re currently experiencing are coming thick and fast.


At the forefront of helping businesses manage change and advising on it are chartered accountants.


It’s a great privilege to represent chartered accountants in the region, after being appointed as ICAEW president for Lancashire & South Lakeland a few months ago.


It’s also been a great opportunity to look under the hood of the ICAEW and see what it does at a much wider level. Meeting with Michael Izza, the chief executive of ICAEW, and hearing how close the ICAEW is to the Bank of England, government and HMRC.


One of the ICAEW’s core foundations is reputation and influence, contributing expertise across business on a wide variety of topics, but also having the clout to shape policies, legislation and standards.


The remit of the role as president, is to support chartered accountants in the region and feedback to ICAEW centrally on the issues we’re seeing with businesses.


So what are we currently seeing? Chris Brown


The ICAEW North West Business Confidence Monitor, shows business confidence falling into negative territory for the first time since the pandemic.


This is not surprising given factors such as rising inflation, interest rates and the cost of living crisis.


Despite businesses achieving record rises in domestic sales, the rate of increase is expected to slow.


However it’s not all doom and gloom. Although business confidence may be low, many business owners are continuing with their growth plans, albeit at a slower rate. The sentiment seems to be that ‘if we’ve got through Covid, we can get through this’.


Businesses that we see doing well are those with a positive mindset, looking for opportunities to grow both organically and through acquisitions. The M&A market is still very much buoyant, giving evidence that this is the case.


Although business confidence is low, many are continuing with their growth plans


In my short time as president, I have already seen businesses working more closely together, actively looking for ways to support each other.


As chartered accountants, we are in a privileged position to have wide networks of other professionals, being able to signpost businesses to the right support.


The world is changing and so is the role of chartered accountants. We must continue to lead the way.


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44  |  Page 45  |  Page 46  |  Page 47  |  Page 48  |  Page 49  |  Page 50  |  Page 51  |  Page 52  |  Page 53  |  Page 54  |  Page 55  |  Page 56  |  Page 57  |  Page 58  |  Page 59  |  Page 60  |  Page 61  |  Page 62  |  Page 63  |  Page 64  |  Page 65  |  Page 66  |  Page 67  |  Page 68  |  Page 69  |  Page 70  |  Page 71  |  Page 72