Four-fifths of UK brokers believe the
government is not sufficiently active in bringing about economic
growth and two-thirds feel the economic climate has negatively
affected their businesses.
An online survey by United Trust Bank
(UTB), a broker funder, revealed 82% of brokers working in
bridging, development finance and asset finance feel the government
could be doing more to stimulate UK economic growth.
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The findings come soon after the release of
second quarter figures from the Office for National Statistics
revealed a 0.7% fall in the output of the economy between April and
June, plunging the UK deeper into the recession.
The survey, which was conducted over the
first three weeks of July, also indicated that 67% of brokers claim
the “unsettled” economic climate has had a negative impact on their
business.
Harley Kagan, managing director of UTB,
said the research showed the majority of brokers want more action
from the government to get the economy moving forward.
“Although, some brokers have taken
advantage of the economic turmoil and seen opportunities to grow
their businesses, many want more support during this economic
downturn,” Kagan added.
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By GlobalDataWith 75% of brokers considering the base
rate suitable at 0.5%, Kagan added there seems to be “little
appetite” for a further reduction in interest rates.
Nearly half of brokers surveyed mentioned a
desire for reduced personal and corporation tax whilst 18%
expressed an interest in the prospect of an increase in public
spending.
Only one-fifth believed the current
austerity measures should be continued.
