Pro-union finance profession votes ‘no’ to Brexit
- Over half (55%) of accountancy and finance professionals believe leaving the EU would be bad for the UK economy
- But 14% believe a ‘third way’ would be most economically beneficial
- Most finance professionals (45%) believe uncertainty over EU referendum is damaging confidence in the UK economy
Over half of accountancy and finance professionals across the UK (55%) believe leaving the EU would be detrimental to the health of the UK economy, according to the latest research from specialist finance recruiter Marks Sattin.
However, a significant minority (14%) believe a ‘third way’ – similar to that adopted by Norway, Iceland and Switzerland – would be the most beneficial for the UK economy, which would involve membership to the European Economic Area but without formal vote over EU laws. Just one in ten believe a Brexit would be advantageous.
Previous research from Marks Sattin in the run up to the Scottish referendum also concluded that finance professionals are ‘pro-union’ with just one in ten (11%) supporting the financial and economic arguments for Scottish independence.
Dave Way, managing director at Marks Sattin, commented: “Accountancy and finance professionals across the UK favour the security of remaining within the EU and continuing as part of a substantial organisation that can exercise real clout on the world economic stage. No doubt they are influenced by the jurisdiction of the European Court of Justice which upholds EU law and the twin pillars of free movement of goods and people. Without this we would not have benefited from decisions like the overturning of the ban on British beef in France, which endured outside the EU’s realm of power. The UK also benefits from foreign direct investment which arguably would be less forthcoming as a lone wolf than as an EU member. Nissan, for example, may have chosen to build its European car plant away from Sunderland, which has since become the biggest private provider of jobs in the north east and triggered a wider motoring renaissance in the UK. However, a significant minority have been swayed by the ‘third way’ championed by countries like Iceland, Norway and Switzerland, which would still allow us to access the largest single market in the world and tap into the potential skillsets of 500 million people, but the flipside of this arrangement is the lack of formal vote on EU issues.”
Uncertain territory
The finance profession as a whole is more sharply divided on whether current uncertainty over the prospect of an upcoming EU referendum is damaging confidence in the UK economy. Forty five per cent agree that it is, while a further 40% do not think the economy is suffering.
“Unfortunately we may not be in any clearer position following the imminent election with many political analysts placing their bets on a 1974-style double election scenario – the uncertainty may play out for several months.”
Data sourced from Marks Sattin poll of accountancy and finance professionals. 339 respondents.
Signup to receive the latest discipline specific articles
Related articles
Teaser
TechnologyContent Type
General
19/03/24
Summary
The year 2024 emphasises the crucial role of RegTech — a beacon guiding firms through the evolving global regulatory landscape, enabling them to connect the dots between short-term challenges and
by
Paul Roche
Teaser
TechnologyContent Type
General
19/03/24
Summary
The UK tech sector retains the number 1 spot in Europe and number 3 in the world as sector resilience brings continued growth. With this demand comes stiff competition. London offers a wide range
by
Ghazal Mayahi
Teaser
GeneralContent Type
Career Advice
19/03/24
Summary
Are you considering a change of scenery? Just look at London - an incredibly diverse city, with over 1,600 languages spoken and 300 nationalities represented. At the centre of the UK's 4.2 milli
by
Kelvin Murphy
Related jobs
Salary:
£55,000 - £65,000 per annum
Location:
Leeds, West Yorkshire
Industry
Manufacturing
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£60,000 - £70,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
This acquisitive, PE backed business has more than doubled in size over the past 5 years whilst growing their team to 250 in the UK.
Reference
BBBH179803
Expiry Date
01/01/01
Author
Hannah BulmerAuthor
Hannah BulmerSalary:
£150,000 - £175,000 per annum + equity, bonus and benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive is working with a PE Backed, International Software business, going through a period of rapid organic growth
Reference
TA 3225
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + Equity, Bonus and Benefits
Location:
England
Industry
Professional Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive search is working with a PE Backed Financial Services business is seeking a Best-In-Class CFO
Reference
TA 3224
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + exit bonus, benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an exciting opportunity for a CFO to join a PE Backed Tech Enabled B2B business.
Reference
TA 3223
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + Equity, Bonus and Benefits
Location:
West Midlands
Industry
Consumer & Retail
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with an Established multisite wholesale Distribution business
Reference
TA 3222
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + Equity, Bonus and Benefits
Location:
London
Industry
Consumer & Retail
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a rapidly growing Fashion Retail business.
Reference
TA 3220
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + Equity, Bonus and Benefits
Location:
Yorkshire and the Humber
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an exciting opportunity for a CFO to join a PE Backed infrastructure business
Reference
TA 3221
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + Equity, Bonus and Benefits
Location:
England
Industry
Professional Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive Search is working with an international PE-Backed Buy and Build Corporate Services Business.
Reference
TA 3219
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£45,000 - £47,000 per annum
Location:
Doncaster, South Yorkshire
Industry
Manufacturing
Qualification
Finalist / Newly qualified
Market
Commerce & Industry
Salary
£40,000 - £50,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Finance Business Partner // Manufacturing // £45,000
Reference
BBBH179631
Expiry Date
01/01/01
Author
James MetcalfeAuthor
James MetcalfeSalary:
£45,000 - £50,000 per annum
Location:
Sheffield, South Yorkshire
Industry
Manufacturing
Qualification
Fully qualified
Market
Commerce & Industry
Salary
£50,000 - £60,000
Job Discipline
Qualified Finance
Contract Type:
Permanent
Description
Management Accountant // Manufacturing // £50,000
Reference
BBBH179802
Expiry Date
01/01/01
Author
James MetcalfeAuthor
James Metcalfe