ipsos mori captains of industry survey 2016
TRANSCRIPT
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05/01/2015
Core Question Deck
Captains of Industry 2015
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C4. What do you see as the most important issues facing Britain today?
2
The most important issues facing Britain today
Our role within Europe
Poor political leadership Terrorism
World Economy Skills shortage Immigration
Uncertainty in Middle
East/China
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
61%
21%
15% 15% 14% 14% 14%
44%
12%
4% 2%
11%
7%
1% 4% 5%
2015 2014 2013
N/A N/A N/A N/A N/A
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Company optimism levels
C2. Do you think that business for your own company will improve, stay the same or get worse over the next
12 months?
3
0
10
20
30
40
50
60
70
80
90
100
General election
General election
General election
General election
57%
7%
Year
57%
36%
7%
Improve Stay the same Get worse Don’t know
General election
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Company optimism since 1987 C2. Do you think that business for your own company will improve, stay the same or get worse over the next
12 months?
4
0
10
20
30
40
50
60
70
80
90
100
Year
General election
General election
General election
General election
General election
General election
57%
7%
General election
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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C5. And, what are the most important problems facing your company today? What other problems are
particularly important?
5
The most important problems facing companies today
Impact of regulation
Finding & retaining the
right staff Growth
challenges Digital
transformation Regulation Skills shortage
Issues surrounding
China
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
17%
11% 10%
9% 8% 8%
17%
6% 7%
9%
18%
9% 9%
4%
2015 2014 2013
N/A N/A N/A N/A
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Will the government’s policies improve the state of the British economy?
C3. To what extent do you agree with the following statement? In the long term, this government's policies will
improve the state of the British economy
6
0
10
20
30
40
50
60
70
80
90
100
General election
General election
General election
General election
96%
1%
Year
29%
67%
3%
1%
Strongly agree Tend to agree
Neither agree nor disagree Tend to disagree
Strongly disagree No opinion
General election
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
. 83%
12%
2%
3%
87%
7%
4%
2%
Preferred outcome of the EU referendum for business and
Captains’ voting intentions
CEU9/10/0 As you may know, the government has pledged to hold a referendum on the United Kingdom’s
membership of the European Union by 2017.
7
Which outcome of the referendum do
you think would be best for your business?
And which outcome would you personally
prefer?
And if there were a referendum now on whether
Britain should stay in or leave the European Union,
how would you vote?
UK staying in the EU Don’t know UK leaving the EU Refused
Stay in Don’t know Get out Refused
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
87%
7%
3%
3%
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Captains’ preference for Britain’s future role in Europe
CEU1. Which of these options best describes your own preference for Britain’s future role in Europe?
8
7%
39% 49%
1%
4%
Britain and other member states of
the EU moving towards closer
political and economic
integration
Britain's relationship with
Europe remaining broadly
the same as at present Britain returning to being
part of an economic
community, without political
links
Britain leaving the EU
altogether Other
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Impact of the UK voting to leave the EU on Britain, trade, foreign
investment, business prospects and recruitment
CEU4. Overall, if the United Kingdom voted to leave the European Union in a referendum, please can you tell
me what kind of impact, positive or negative, this would have on the following?
9
13% 7% 5% 5% 3%
49%
15%
61%
23% 17%
76%
20%
31%
63%
28%
47% 52%
20%
56%
6% 15%
6%
25% 26% 23%
Britain’s trade with
the rest of the
world
The British
economy overall
Your company’s
prospects
Britain’s standing in
the world
Foreign investment
in the UK
Your company’s
ability to attract
and retain talent
Britain’s trade with
Europe
Very positive Fairly positive Would make no difference Fairly negative Very negative Don’t know
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015 Responses less than 3% are not shown
2%
2%
.
57%
48% 47%
29% 29%
22% 22% 18%
10% 7%
Ease of visa free
recruitment of
people from
across the EU
Ease of cross-
border trading
within the EU
Being part of the
Single Market
Ease of access to
customers in the
EU
Being part of EU
Free Trade
Agreements
A single
regulatory
framework in the
EU for your
industry sector
EU initiatives to
support business,
e.g. European
Investment Bank,
Structural Funds
Harmonisation of
standards across
the EU
There are no
significant
benefits to our
business from the
UK’s membership
of the EU
Other
10
The most significant advantages to UK business of EU membership
CEU2. Which, if any, of the following are the most significant advantages to your business
of the UK’s membership of the European Union?
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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11
The most significant disadvantages to UK businesses of EU membership
CEU3. Which, if any, of the following are the most significant disadvantages to your business
of the UK’s membership of the European Union?
67%
54%
43% 40%
34%
13%
6% 5% 1%
The volume of EU
regulation
Regulatory
changes from the
EU
Uncertainty over
the UK’s
membership of the
EU
Uncertain
economic outlook
for the EU
Uncertainty around
the future of the
euro / eurozone
Industry-specific
taxation from the
EU
The incompleteness
of the Single Market
Other Don’t know
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Captains’ attitudes to the EU referendum, Europe’s economy, the debt
crisis in the Eurozone and EU reform
CEU5. To what extent do you agree or disagree with the following statements about Britain’s relationship
with the EU?
12
30% 19%
12% 8%
51% 56%
43%
17% 19%
7% 7%
17%
15% 22%
12% 15%
25%
36% 35%
4% 4%
23% 23%
Business leaders should
play an active part in the
referendum campaign
Europe’s economy is too
inflexible to face the
challenges of the modern
world
The debt crisis in some
Eurozone countries is a
significant risk to the British
economy
Britain would be better off
leaving the EU than being
part of an unreformed EU
The debt crisis in some
Eurozone countries is a
significant risk to my
company
Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree Don’t know
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015 Responses less than 3% are not shown
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Business planning for a possible British exit from the EU and
consultation by the government
CEU6. Which, if any, of the following apply to your company? Please choose all that apply.
13
36%
25%
7% 5%
1%
43%
We are carrying out
planning scenarios
for a possible British exit of
the EU
We expect to be
consulted by the
government
on what reform agenda to
pursue in
negotiation with the EU
We have been consulted
by the government
on what reform agenda to
pursue in
negotiations with the EU
We have reduced or
delayed investment
programmes because of
uncertainty about the
outcome of the
referendum
We have donated or are
considering
donating to one of the
referendum campaigns
None of these
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Perceptions of the level of regulation affecting UK businesses
C90. Do you feel that the level of regulation affecting business in the UK overall has been increasing or
decreasing over the last 12 months or has there been no change?
14
67% 2%
31%
Increasing Decreasing No change
64% 5%
31%
69%
2%
29%
2013 2014 2015
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Attitude to the effect of the level of regulation on UK business and
the UK economy
C3. To what extent do you agree or disagree with each of the following statements?
23
28
35
35
54
51
46
48
15
8
15
7
7
12
2
10
2
2
1
2015
2014
2013
2012
Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree
The level of regulation
on UK businesses is harming the UK
economy
Net percentage points (% Agree - % Disagree)
2012 +72pp
2013 +77pp
2014 +67pp
2015 +68pp
Base: British Captains of Industry 102 interviewed Sept – Dec 2015, 108 interviewed Sept – Dec 2014, 105 interviewed Sept – Dec 2013, 103 interviewed Sept – Dec 2012
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31%
65%
2%
2%
Strongly agree Tend to agree
Neither agree nor disagree Tend to disagree
Strongly disagree No opinion
Attitudes to the UK as an attractive place to invest
C3. To what extent do you agree or disagree with the following statement?
19%
63%
12% 5%
1%
42%
50%
3%
3% 2%
2013 2014 2015
The UK is currently an attractive place to invest
Base: British Captains of Industry (102) interviewed Sept – Dec 2015, (108) interviewed Sept – Dec 2014, (105) interviewed Sept-Dec 2013
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Which is the best country in terms of the environment for doing
business and the most attractive for investment
C42. In the current climate, which of the following countries do you believe offers the best environment for
doing business? C43. Which of the following countries do you believe are the most attractive for investment?
17
45% 39%
USA 33%
19%
UK
6% 1%
Canada
2%
Mexico
1%
Australia
Best environment Most attractive
1% 2%
Germany
2%
Brazil
1% 8%
China
1% 5%
Middle East
8% 2%
Singapore
1% 2%
Africa
3%
Spain
1% 11%
India
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Attitudes to the effect of a slowdown in the Chinese Economy on
the British Economy and on Captains’ companies
C44. To what extent do you agree or disagree with each of the following statements?
18
12
11
64
33
9
18
14
27 9
2
2
Strongly agree Tend to agree Neither agree nor disagree Tend to disagree Strongly disagree No opinion
A slowdown in the
Chinese Economy over
the next 12 months is a
significant risk to the
British economy
A slowdown in the
Chinese Economy over
the next 12 months is a
significant risk to my
company
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Positive and negative effects on companies of government’s attitude,
low oil prices, potential interest rate rise, auto-enrolment, the strength
of the pound and the introduction of the National Living Wage
C45. Overall how much of a positive or negative effect are each of the following having on your company?
19
7% 13%
4% 6% 4% 6%
54% 42%
23% 20% 21% 15%
20% 21%
39% 57%
41% 58%
17% 15% 31%
13%
26% 15%
8% 3% 6% 5%
The current
government’s attitude
to UK businesses Current low oil prices
The likelihood of
interest rates rising in
the next 12 months
Employer provided
auto-enrolment
pension scheme for
all employees
The strength of the
pound compared to
other global
currencies
Planned introduction
of the National Living
Wage
Very positive Fairly positive Neither positive or negative Fairly negative Very negative No opinion
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015 Responses less than 3% are not shown
1% 1%
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0
10
20
30
40
50
60
70
80
'81 '83 '85 '86 '87 '88 '89 '90 '91 '92 '93 '94 '95 '96 '97 '98 '99 2000 '01 '02 '03 '04 '05 '06 '07 '08 '09 10 11 12 13 '14 15
The most impressive business person in Britain at the moment
20 Base: British Captains of Industry 2015 (102), 1981-2014.
C26. Who do you think is the most impressive business person in Britain at the moment? Who else?
Lord Weinstock
Lord Weinstock
Sir John Harvey-Jones
Lord Hanson
Lord Hanson
Sir David Simon
Richard Branson
Sir Colin Marshall
Sir Richard Sykes Lord
Browne
Lord Browne
Sir Terry Leahy Sir Terry
Leahy
Sir John Rose
Sir Richard
Branson
Justin King
Sir Richard
Branson
Sir James Dyson 14%
Sir Martin Sorrell 14%
2015
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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The most admired British company
21
C26B. And which British company do you most admire?
10% 10%
14%
7%
7% 5%
3%
14%
10%
10%
7%
7%
5%
3%
2%
2%
2%
2%
John Lewis
Jaguar
British Airways
Dyson
Rolls Royce
Virgin
HSBC
First Direct
BP
JCB
Spirax Sarco
Base: British Captains of Industry (102) Interviewed Sept – Dec 2015
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Methodology
This report presents findings of the 2015 study of Captains of Industry, widely
acknowledged as the authoritative source of opinion on Britain's business elite
Respondents are executive board-level directors and chairmen
Companies are from:
top 500 industrials by turnover; and
top 100 financial companies by capital employed
A total of 102 respondents took part, details of which are provided below
Fieldwork: September – December 2015
97 interviews were conducted face-to-face and 5 by telephone
22
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Composition of the sample
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Sector 2015
Services/ Retailing 21%
Financial/ Banking 18%
Technology/ Media/
Telecoms 14%
Construction 13%
Utilities 8%
Manufacturing 8%
Transport/ Distribution 7%
Mining/ Minerals/ Natural
Resources 4%
Other 11%
FTSE Index 2015
FTSE 100 19%
FTSE 250 34%
Other listed and Private 47%
Job Title 2015
Chief Executive 37%
Chairman 26%
Chief Financial Officer 12%
Finance Director 9%
Chief Operating Officer 2%
Other 11%
Employees 2015
1-999 28%
1000-4,999 44%
5000+ 27%
Head Office Location 2015
London 52%
Outside London 48%
Classification 2015
Primarily B2B 49%
Primarily B2C 28%
Mix of B2B and B2C 22%
Other 1%