Confidence amongst CFOs has risen at sharpest rate since 2020

17 Apr 2023

Research carried out by Deloitte has revealed that confidence amongst UK Chief Financial Officers (CFOs) has risen at its sharpest rate since 2020.

CFOs' concerns regarding energy prices and Brexit have eased, the research showed. 25% more CFOs reported feeling better about the future than worse. Deloitte found that there hasn't been such a significant improvement in confidence since the COVID-19 vaccine rollout.

However, a handful of CFOs polled stated they still harbour uncertainty, with a proportion saying they are seeking to cut costs and build cash reserves.

Commenting on the findings, Ian Stewart, Chief Economist at Deloitte, said: 'Since the beginning of the year, energy prices have fallen, inflation looks to have peaked, relations with the EU have improved since the Windsor framework and there has been a period of comparative political calm after the turmoil of last year.'