There’s never been a shortage of experts claiming to accurately predict where the economy is going, and how fast. Indeed over the last few years a cottage industry has grown up around the continuing economic uncertainty, with predictions of impending economic collapse seemingly being issued on a daily basis.
For corporate treasurers, then, acceptance of those factors they can’t control must sit alongside the need for a clear vision of what they can do to protect their businesses in a time of such instability. The main priority for most treasurers now is to understand the prospects for the economy in the medium term. And so it’s tempting to describe George Osborne’s most recent effort as a "Keep Calm and Carry On" budget.
There were few radical new measures, and very little deviated markedly from what was begun last year. Deficit reduction remains the focus, while the Chancellor once again reiterated his determination to help the private sector drive the recovery.