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Finance directors concerned about double dip recession

In a worrying development it has been revealed that finance directors at the U.K.'s largest companies are more concerned today about a double dip recession than they have been over the last 12 months. The probability of a double dip recession has increased from 33% just three months ago to 38% today although there have been more positive developments in relation to liquidity in the credit markets. So what can we expect in the short to medium term?

One of the major problems is the very fact that more and more finance directors are concerned about a double dip recession and will obviously realign their investment and their marketing funds to take account of this. At a time when reinvestment into businesses and promotion of businesses is vital to pull away from the recession, turning off the tap at this stage of the economic cycle could have very damaging consequences.

It was also revealed that over 60% of finance directors at some of the U.K.'s largest companies believe that George Osborne's tax increases and budget cuts will impact directly upon their prospects in the short to medium term. However, over 80% of those surveyed also believed that the budget deficit should be the UK government's major priority for the foreseeable future.

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