That's according to a Deloitte chief financial officer survey

There is an optimistic outlook among the chief financial officers (CFOs) of major UK companies, continuing a positive trend for the fourth consecutive quarter, according to Deloitte’s latest CFO survey.

Following the recent election, a net 23% of CFOs report being more positive about the financial prospects of their businesses compared to three months ago.

Post-election, 36% of finance chiefs believe now is the best opportunities to take on greater risks onto their balance sheets, as corporate risk appetite saw its biggest rise in over four years.

Only 23% of finance leaders rated the levels of financial and economic uncertainty facing their business as ‘high’ or ‘very high’.

However, the survey found a renewed confidence with a net 64% of CFOs anticipating an increase in revenues over the next year- a significant increase from 42% three months prior.

“We’ve seen a significant shift in risk appetite post the general election and the new government’s focus on growth and stability is already increasing corporate confidence,” said Richard Houston, senior partner and chief executive of Deloitte UK.

“Business leaders want industrial strategy to be top of the new government’s economic priorities, and there’s a clear desire to work in partnership to unlock growth and drive productivity. This will be critical to delivering an inclusive and sustainable future for the UK.”

Kelly Fordham, director of financial services at Investigo, commented: “For the UK economy to grow, we need confidence among financial services leaders, who will be crucial to lead the charge. As an industry, we need to push forward with innovation and investment in both people and technology to continue overhauling digital transformation projects and boost the efficiency of the sector.”
 
“People will be at the heart of growth within financial services, and it’s our duty to make UK financial services sexy again to hire the top talent and make the sector attractive for investment. The industry is still recovering from the pandemic, which created experience gaps in important roles across banking, financial crime and compliance, leaving banks, for example, in need of staff that are tighter around balance sheet control. As finance leaders gear up for growth, it is vital they take a strategic approach to hiring, optimising job requirements and specifications to bring in the best talent.”

This optimism is in contrast with lower level financial professionals, three quarters of whom are planning to leave the financial sector.

Image: Deloitte

Robert Welbourn
Robert Welbourn is an experienced financial writer. He has worked for a number of high street banks and trading platforms. He's also a published author and freelance writer and editor.