The Institute of Directors (IoD) has published a list of 14 business and economic predictions for 2018.
In its publication, the IoD predicts that 2018 will be a year of ‘great change’ for UK companies. The business group’s predictions cover a range of key issues, such as taxation, Europe and trade, employment and the UK economy.
It speculates that the Treasury will attempt to tax self-employed individuals ‘more like employees’, and predicts that Chancellor Philip Hammond will launch a consultation on the matter in the 2018 Autumn Budget.
The IoD also predicts that, by March, the UK and the EU will have reached an agreement on transitional Brexit arrangements, and a written commitment will be made.
Meanwhile, the number of companies being formed will ‘continue to rise’ in 2018, the Institute speculates. Its latest survey on confidence amongst business start-ups revealed that UK entrepreneurs are entering into 2018 with a ‘positive attitude’ towards investment in their firm.
Commenting on the predictions, Edwin Morgan, Interim Director of Policy at the IoD, said: ‘2018 will be another big year for business. The ongoing Brexit negotiations will be playing on many business leaders’ minds, but it would be a mistake to think it’s the only show in town.
‘By the end of 2018, if decent progress is made in the Brexit talks, companies will hopefully be able to look forward to the coming years with greater clarity and positivity about where the UK is going.’