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In this Insights In Focus episode, we discuss what 2024 is likely to bring for businesses and their accountants.

Host 

Philippa Lamb 

Guests

  • Iain Wright, Managing Director, Reputation and Influence, ICAEW
  • David Williamson, Political Editor, Sunday Express
  • Frances Haque, Chief Economist, Santander UK

Transcript

Philippa Lamb: Hello, and welcome back to the In Focus podcast. I’m Philippa Lamb, and today’s episode is something of a milestone because instead of digging into a single topic, as we usually do, this time we’re looking ahead to what 2024 may bring for businesses and their accountants. There are few certainties for the coming 12 months, but we are expecting a Spring Budget, and of course elections on both sides of the Atlantic.

Beyond those relative certainties, it’s hard to give a positive spin to what looks likely to be another challenging year of stagnant growth, and weak business and consumer confidence. But to bring a little cheer, to fill in those brushstrokes and share their predictions for 2024, we’ve brought together the winning team who sat around this very table a year ago and gave us what proved to be some very solid predictions for 2023: Iain Wright, ICAEW Managing Director of Reputation and Influence; Frances Haque, Chief Economist at Santander UK; and David Williamson, Political Editor of the Sunday Express. How’s your year been, everyone?

David Williamson: It’s actually been quite a good year, I think. My son has moved from an obsession with steam trains onto an obsession with dinosaurs. So I feel like I’ve spent a year living with a palaeontologist.

PL: Interesting times!

Frances Haque: Whenever aren’t there interesting times – certainly over the last few years they have been, I have to say, challenging – but never a dull moment.

PL: Iain, what would your word of 2023 be?

Iain Wright: I think in general, it’s ‘polycrisis’, just all these crises coming together. Although I saw yesterday that the word of the year – and it shows how much of an old man I am now – is ‘rizz’, and I have no idea what that means.

PL: OK, I’m going to ask the journalists at the table?

DW: Oh, you have so much of it. It’s what the kids these days say to describe charisma – blazing rizz!

PL: We’re recording this just ahead of Christmas. But this time last year, you all shared your thoughts on 2023 – not an easy year to read. David, you said the government’s main aim would be maintaining stability and stopping the UK turning into ‘Britaly’, a British version of Italy. We can say they tried, can’t we? Frances, you were worried about ongoing weak consumer confidence. You predicted the cost of living would force more people back into the labour market – that obviously happened. And Iain, you flagged wage inflation and labour unrest as ongoing problems. You told us you expected inflation to fall but linger on. And so it came to pass. So 10 out of 10 for everyone. Today, we are mostly looking ahead. But should we just quickly look at the past year? How do we think the economy fared – Frances?

FH: Well, I have to say better than expected. As I recall, at the end of last year, pretty much all economists were predicting a recession to follow. That didn’t happen. Now, while that’s wonderful news, that is tempered by the fact that it’s really just stagnant growth that we’re seeing, but we’ll take anything that’s positive. I think inflation is difficult to predict, because we’d obviously pretty much hit the peak back when we were doing the podcast last year, and we were expecting it to fall. And by and large, it has done what we expected it to do. I do think the path ahead is probably a little bit rocky, but at least we’re in a much better place than we were back then.

PL: David, how’s the year been for the government?

DW: It’s been a year in which Rishi has worked extraordinarily hard to try and portray himself as a competent person, someone who doesn’t create drama and chaos. And, to a certain extent, he has succeeded in that we’re only now getting back into stories appearing in papers about leadership options – that Gorgon’s head is slowly starting to resurface. But by and large, by the standards of what had come before, he’s steadied it. The problem is that the one thing where he did want to make a significant difference is in the opinion polls. And while there’s been a slight narrowing, there hasn’t been that coming together of the tracks that you need to see, to have people credibly talking about another Conservative victory. So that’s his big challenge now, to create in the minds of reasonable people an expectation that it might happen.

PL: Iain, how would you sum up last year?

IW: Disappointing. It shows what we’re trying to expect when, as Frances says, we think it’s a good thing that we’ve avoided a recession. And you know, these anaemic levels of economic growth, of no point whatever, rather than into even full percentage points – it makes you think, is this what it’s going to be like for the rest of the decade? And what impact is that going to have on prosperity, employment, investments, and in general that sense of economic wellbeing – is it going to be a tough decade of low economic growth? The signs are not good. I don’t want to be unhappy and be a Christmas Scrooge, but it feels like Santa’s sack is going to be quite empty.

PL: Yes, a tough decade. Before we move on to 2024 predictions, I think we do need to mention the Autumn Statement on 22nd November. Frances, can you just remind us what the main announcements were and what you think the Chancellor was looking to achieve?

FH: The main announcements were obviously the cuts in national insurance contributions, full expensing, which actually was something I think companies were really asking for. So from that perspective probably a win, I think, for the government. We also obviously had the rise in the national living wage. I think what they were trying to do was to have a boost, to create some momentum that was not inflationary in terms of growth. And they were very much looking at the supply side to do that, because obviously, on the demand side that might fuel inflation – so it was very much a focus on the supply side this time. So all in all, it could have been a lot better, but it could have been a lot worse.

PL: David, it was only September, wasn’t it, when the Chancellor was saying tax cuts were virtually impossible. And then this national insurance cut – what changed?

DW: I think the immediate thing that changed was that people suddenly started talking about a May election being a possibility. There was also, I think, a huge desire to give something for his foot soldiers in the party to take to the doorsteps and sell – that had been the refrain around Westminster: “What do we actually have to sell on the doorsteps? We can’t just sell competence and ‘calm and steady’.” And suddenly they had that, and it was perhaps a way of signalling confidence in the economy – oh, we have this room to do this. The magic word ‘headroom’ was bandied around so much – this idea that suddenly there was more money than expected.

PL: Yes, because the October deficit was not quite as catastrophic as the OBR expected – I think that’s all you can say about it?

FH: Pretty much, yes. There is, of course, still the elephant in the room, which is what happens to spending plans. Obviously, that’ll come around in spring next year. But it certainly was just a little bit of extra headroom that he was able to use.

PL: Iain, you talk to people in business all the time, what was the general feeling about it?

IW: It was a good Autumn Statement. And if I were Jeremy Hunt, I’d be both pleased that I provided a political Autumn Statement, with tax cuts, but actually provided a good fiscal and economic statement too, doing exactly the right thing that the country needs for long-term sustainable growth. Permanent capital allowance expensing is a great thing to boost business investment. And he’s done things in terms of targeting really focused investment on things the UK does well. Green manufacturing is a particular one. AI – the government is very proud that we’re third in the world behind the US and China for tech investments; the £500m there should help us boost our position as a leading tech nation. So all of these things, in terms of all the ingredients to put in place a really good long-term healthy growth trajectory, he’s done. And yet the OBR said it’s not going to shift the dial one jot, and he must be really frustrated that he’s doing the things that are right, subject to maybe fewer or more tax cuts, but he’s put in place those main ingredients, and it’s not made an ha’p’orth of difference.

PL: This is not a political podcast, but I think we’ve got to talk about the general election, because that’s going to be the big event, isn’t it? It is going to be uppermost in Jeremy Hunt’s mind. More widely, what does this all mean for the government’s agenda for the coming year?

DW: Suddenly, we’re seeing what the reality of a world in which we no longer have the fixed-term Parliaments Bill is; this is David Cameron’s great innovation – that we’ll actually know when the election is. Now we’re heading into a year where there are very rational people all making incredibly persuasive arguments for totally different dates, because you have the mayoral elections coming up for places like the Midlands with Andy Street, and so on, and Teesside, which was such an iconic red wall victory. Now, does the Prime Minister want to actually go before this happens? Does he want to go at the same time as it happens? Does he want to go after it happens? Because if he loses a string of quite iconic seats, that would just kill the morale of the party. The thinking still is that it’s going to be the autumn, with all these rumours about maybe having a one-day autumn conference where Rishi will just stand up and announce that we’re going to the polls. But then other people are saying you have a majority, which is probably going to be bigger than what comes next. Why would you put that at peril? And the big argument is, will people be feeling better? The hope is that by having the early national insurance cuts, and also the fact that lots of people got their pay increases based on a higher rate of inflation when it was at terrifying Himalayan heights – all that will be starting to kick in from April onwards. So that’s another argument for going long – that people will be feeling we have a bit of money, maybe we can have a nicer holiday this year.

PL: Would that play into the thought that there might be another rabbit coming out of the hat in the Spring Budget?

DW: Absolutely – and not just one: we’re expecting an entire hutch of rabbits, and possibly, if it goes long, in their second Autumn Statement as well – they’ll have to find even more creatures!

PL: And what might they actually be? Inheritance tax? Is that actually going to happen?

DW: That was so heavily trailed, and it’s a wonderful dividing line with Labour. And the fact is, a lot of people in the southern seats come up to us and say, “I have constituents who own what was once a council house, which is now worth more than £500,000 – they’ve managed to amass capital which they are now really, really worried about.” This is a conversation which is limited to a small section of the country – you don’t hear this across the UK. But at the same time, Britain remains a very aspirational country. There is also a passion in Tory ranks – it’s something that does get people excited – they genuinely believe it as a moral case that you shouldn’t be taxed twice on your income, and being taxed at death is a horrible thing to do. So I wouldn’t be in the slightest bit surprised if that happens.

Stamp duty has been talked about as well, because even though we’re so far behind in terms of the number of houses that we need, it still remains a punitive expense. And anything that can give people this year a sense that their aspirations might be fulfilled – if they’re feeling slightly better in terms of their income, even though it may all be due to inflation – that’s going to make them feel possibly that they’re doing well in life. And if they’re doing well in life, they might keep their faith and the young man in Number 10.

PL: So your sense is later rather than sooner?

DW: I think so, simply because if the polls were, say, 50% closer than they are right now, they might want to go for a gamble and just put the foot to the floor. But at the moment, I think they’re just betting on the feelgood factor starting to tingle the nation’s toes.

PL: Iain, you’re a Westminster man – what do you think?

IW: I’ve always thought an October general election. Your Prime Ministers, once they get into Number 10, quite like being Prime Minister. And so they want to go long. The Autumn Statement made me think the odds on a May election had been shortened, with the national insurance announcement and then something in the Spring Budget about tax cuts. So I think there are two things that lend themselves to a May general election. First, as David mentioned, there are significant mayoral and local elections; you want that concentration of activists working together. And if they go badly, which the polls seem to suggest they will for the Conservative party, you then have a summer of absolute fear and discontent among Tory MPs who think they’re about to lose their jobs. So you avoid that summer of discontent and leadership challenge and all of that.

The second thing is that a big part of the government’s domestic policy agenda is “stop the boats”. Most small boats come over the Channel in the summer. And so, does the Prime Minister, does Number 10, does the government want literally wave after wave of headlines saying “More boats are coming, more boats coming” stacked against it? As I said, If I were a betting man, I’d probably say October. But I wouldn’t rule out May at this point.

PL: Frances – casting vote! What do you think?

FH: I would have always said October. But I also know that presumably that runs into what’s happening on the other side of the Atlantic. While that’s not obviously my area of expertise, one wonders how that might play out. But I also think that October just gives the government another budget at least to get through. But it’s certainly very interesting, listening to the arguments on both sides.

PL: As Frances says, there are elections on the other side of the Atlantic – it’s not really our territory, but just briefly, your thoughts on whether it is another term for Trump?

DW: Well, yes, it’s certainly looking like a rematch of Biden/Trump. And it’s fascinating, if you look at American magazines at the moment – those on the left are going through various stages of catastrophism. Even on the right there are great questions about the future of right-of-centre America. Has Trumpism truly cemented itself? As you look at the debates that are happening, which Trump isn’t taking part in, none of it matches traditional right-of-centre, conservative politics. When you think of Reagan and Thatcher and how they were joined at the hip on a common mission – not just winning the Cold War, but also remaking the economy – they were very, very different images. And an America that’s isolationist and protectionist is going to scare a lot of people around the UK, especially with Ukraine continuing to be a scene of such tragedy. It’s a deep worry in Conservative circles at the moment – that you might have a Republican administration which is not at all enthusiastic about NATO. And some elements of it are positively hostile to Ukraine, it seems, as well,

PL: Frances, what do you think? How would that tip the dial over here, economically?

FH: It’s bound to have a knock-on effect, but it’s whether that’s immediate, or whether it’s more of a long-term issue that’s quite difficult to get your head round. If we’ve got Trump, there’s the fact that he might pull out of all sorts of areas. If they pull out of NATO, what does that do to NATO? And then what does it do budgets – is everyone else going to have to put more in? Obviously, there are fiscal implications for that. So those are the immediate things. But in the longer term, does that give us investment issues? We’re still trading a lot with the US, and there’s been a move to supplement that trade because of Brexit – will that be affected? It’s quite difficult, because no policies are really out there at the moment, to understand quite what the knock-on effect might be. But an effect there almost certainly will be, because it’s a global economy.

PL: Coming back to the UK, Iain, what would ICAEW’s key asks be of the main political parties ahead of our own general election?

IW: At ICAEW, we’re going to publish a manifesto, where we’re going to have our main asks of all parties for the general election. One of the themes that we’ve used over the last year or so is renewal and resilience. The renewal is in terms of being at the start of a new chapter in global economic history: the rise of artificial intelligence that’s going to transform lots of the economy. But also there’s the transition to a non-fossil fuel economy, and the great market opportunities that provides. We’ve got to be at the forefront, as a nation, as an economy, as a workforce, with those big sweeping forces. But also, I think what the pandemic and other crises have shown is, we’ve got a problem with resilience – with supply chain difficulties. We may not be as resilient with things such as where our energy comes from, and how we get our raw materials. So what can we do to become more resilient? The key point, the real story of the last 15 years, is poor productivity performance. What do we do to make sure that we can become more productive? And that means more investment, more investment in skills, in infrastructure, in capital. And at a time of really tight economic restraint and weak public finances, how are we going to do that?

PL: It does seem to me, and I think to everyone else, the big problem for the two main parties is distinguishing themselves from each other?

IW: Well, David might want to comment on this, but there’s not that much between them. And there’s not that much room for manoeuvre. You know, the public finances are difficult. The key forces around things like demographics – we’re an aging population, with more reliance upon health and social care that’s extraordinarily expensive. Frances has just mentioned the defence pressures that we’ve got with Ukraine and, to some extent, the Middle East. We’ve had a sort of peace dividend since the end of the Cold War, some 30 years ago. Now that’s probably coming to an end and we need to spend more on defence. You have all these different forces. And, of course, how do we make sure that we’re competitive? Well, we need to spend on infrastructure. There’s the debate we’ve had this year on HS2 – big capital projects being stopped. So this is what the dialogue is, but in terms of whether there’s a clear path for any government, regardless of political complexion – that’s not necessarily the case.

PL: But regardless of party politics, it all plays out against this backdrop of weak and stagnant economic circumstances. The OBR forecast, the Bank of England forecast, they’re not entirely identical. Would you like to clarify that for us? Why aren’t they the same?

FH: It is slightly strange that they should be quite so divergent. The Bank of England has been much weaker, but it has been much weaker throughout the last couple of years. And slowly but surely it has been rowing back from that. Obviously they update their forecasts every quarter so we’ll need to wait till February for the next round. But it will be interesting, partly because the Bank of England is pretty much the only forecaster that’s really got a recession in there; there are one or two others with very small ones, but theirs is somewhat larger. Whereas I would say the OBR forecasts are more in line with external views in terms of where we think we’re going to head. But let’s face it, neither of them makes particularly great reading, if you’re actually wanting an economy that’s going to grow.

PL: There are many, many things to hold the UK back, aren’t there, consumer confidence being one – it’s better than it was but it’s not great?

FH: I think it dropped to something like minus 50 at one point, which is the lowest it’s ever been. So that’s how bad it got it. It’s much improved on that. And, interestingly, business confidence is slightly better than consumer confidence – difficult to read into that. But it really all goes back to this point about productivity, which Iain has already highlighted. The fact is, our productivity growth is appalling. It’s been less than 1% for the last decade. Obviously, prior to the 2008 recession, it was up at around the 2% mark. So it’s fallen behind; it is much lower than some of the G7 countries as well. And at the end of the day investment has always been quite bad in the UK, even prior to the decade that’s just gone. But it has got significantly worse. It’s the skills – we just seem to lack the skills and we also have a demographic and a workforce issue now, on top of that – it’s just really exacerbating it.

But the one thing I will be interested in, to see whether the parties distinguish themselves in the general election, is what they’re going to do about planning. Because if you talk to anybody, political or an economist, it’s planning that is a real obstacle. We either haven’t got enough people, or we’ve got to put the plans through local authorities – they’re all over the place. So there needs to be more planning. Because housing is an issue from an economic perspective: if you want people to go where the jobs are, you’ve got to have houses for them to live in. And that’s part of our problem. We don’t have that because we don’t also have really good infrastructure for trains and transport, etc; that exacerbates the problem. And when I talk about planning it’s also, of course, planning for things like transportation and stuff like that – planning in general. So I’ll be very interested to see if there’s a dividing line on planning

PL: As Frances says, lots of structural issues are holding us back. What does the ICAEW’s Business Confidence Monitor (BCM) tell us about the mood right now? How does it compare to where we were a year ago?

IW: The Business Confidence Monitor has been going for the best part of 20 years, and is a really good forecast mechanism by which you can see how economic growth will be in the next 12 to 18 months, because obviously confidence now can move into hiring decisions, investment decisions, which will then have an impact upon economic growth. It’s been pretty weak this year. The average over the BCM period since about 2004 is a positive of about seven, eight, but this year it’s been around about two. So it’s in positive territory, it didn’t fall off a cliff. But it’s very weak, reflecting the fact that businesses – and probably I take slight issue here with Frances’ comments – businesses are reflecting consumer lack of confidence, and I just think we’re not seeing large increases in growth potential. So although things are slightly better, and they expect prices to continue to come down – so inflation has been tamed – I think there’s a general sense that interest rates, which are at a 15-year high, will continue to stay high for longer, and that’s going to have an impact upon consumer confidence.

PL: And we’ve still got industrial action going on, haven’t we? It hasn’t gone away – we stopped talking about it but it hasn’t gone away.

IW: The Bank of England and the Chief Economist have done some Business Confidence Monitor work with ICAEW and the Bank makes the good point that we imported our inflation about 15 months ago from supply chain issues, from Ukraine and energy. But the second wave of inflation is because of service constraints, and is about wage inflation – that’s very much domestic. But if you’re seeing inflation of 6%, 7%, 8%, you want to see your pay go up by a similar amount; you don’t want to see your standard of living go backwards. That’s entirely understandable as well. So – to go back to the phrase that I was using – how do we have that resilient economy where we see productivity gains that flow through to real sustainable increases in the standard of living?

PL: So what do you think the Business Confidence Monitor will do this year?

IW: In 2024 I think it will be somewhat flat again. We might start to see interest rates go down, but I think the Governor and the Chief Economist of the Bank have been very clear – they’re going to stay higher for longer. And we’re a service economy, and we have, essentially, a home-owning democracy. But even if you’re renting, the impact of this flows through to what you pay in rent. So this is a key part. There’s a wider point that Frances alluded to, which is that since the Sixties and Seventies, we haven’t built enough homes in this country. And we need to do something about that. Now, whether any future government, any future parliament, can deal with the planning system and, essentially, say to the general population, you can’t object to homes being built near you, and you can’t object to the problems that might cause with infrastructure, with difficulties like that – it’s a brave government that does that, a very brave government.

PL: And yet we’ve got record rents now.

IW: It’s a question of supply and demand. And it’s why house prices are high. This is a consequence of 40 to 50 years of not building enough houses.

PL: Inflation. Frances, this was the one we all talked about last year, as the thing that was strangling every hope everyone had. Where do you see that in 12 months’ time?

FH: My feeling is that it will slowly go back towards target. It may take to the end of 2024; it may go into 2025. But I think once you get to below 3, even though it’s not 2.0, not the target, it’s close enough; 2.4, 2.0 – I think for most people at that point, they’ll feel relatively content. And then of course, the question comes – and Iain alluded to it – when is the Bank Rate being cut? And it’s been very interesting to watch what the markets think versus all the pushback from all the Monetary Policy Committee members; they’ve pretty much all pushed back to say, higher for longer, we’re not cutting rates anytime soon. And I would say we aren’t going to get any kind of direction on that until the point where they’re pretty much ready to actually cut. I don’t think there’s going to be a lead time into it or anything like that. What’s happened with wage growth is probably the key there. Because, as Iain alluded to, that’s really what’s causing the second-round effect. You know, we were unlucky, perhaps, to have all these different ‘transitory’ effects. They are transitory technically, but when you have three or four of them in a row, they obviously become quite embedded. And that has caused the wage growth to be embedded. But that’s what they’re going to be keen to see falling, which will then help to determine when the cuts might come.

PL: We’re going to wrap up this first podcast of 2024 just the same way we did a year ago, with predictions and hopes for the year ahead. What would you all like to happen in the next 12 months? And what do you think will happen?

DW: I think we’d all love to see less turmoil; there are genuine horror shows which seem to be eluding any sort of immediate diplomatic solution. There’s the situation in the Middle East, which is going to have very long-term repercussions. And Ukraine is so far from an endgame. And of course, we see Putin will be up for election again – that is going to be a major change in the atmosphere. He’ll be coming in with what he will say is a new mandate, but he will also be having an argument with his immediate powerbrokers around him about what happens in Ukraine. Especially if the West is potentially about to be adapting to a new president as well, this could be one of the times where the entire trajectory and future of Europe is going to be in flux.

I would love it if wise and brave heads somehow emerged, which can happen –we just need some brilliant leaders. And I think one of the questions you’ve just been talking about – skills in business – the same question applies in politics, because it’s a toxic job a lot of the time to be an MP. The money isn’t great; the sacrifices that the wider families have to put up with are immense. Where are the JFKs? You know, the sort of people who put the Good Friday Agreement together, behind the scenes, in all parties – the type of people who are willing to take a risk? Also, if suddenly interest rates did go down, and stamp duty perhaps went down, and home ownership became within reach of a greater population, I think we would see a generational wave of euphoria which could be quite transformational in our politics.

PL: That’s quite a big shopping list there. Iain, tell us your hopes and fears.

IW: I’m going to have a big shopping list as well, and I suppose they’re all linked. I think what businesses want is certainty. That’s a sort of global macro. Let’s not see these shocks and upheavals that we’ve had, arguably, for the last 15 years but certainly for the last five or so. So a period where things are stable. But also, and this is much more in our gift or in the gift of the government, can we have policy certainty and stability? Stop changing things, because that’s a real burden on business. We have to spend money in order to keep up to date with regulation, and with particular regulators doing things that may be at odds with each other. Not having a consistency of regulatory approach is a real burden on business. So policy certainly is my first ask.

The other two are linked in some way. First, I’d love us to break the shackles of poor productivity performance. It’s the only way this country is going to prosper. Having that focused investment, trying to unlock some of that business investment, is absolutely key. And the third thing is – I think we were pretty good last year in our forecasts, but one of the things we didn’t really forecast was the rise of AI and ChatGPT. I think for 2024 it’s all hype at the moment. It’s all, the economy is going to be completely transformed in either a good way, or a bad way; the robots are coming to change or to take our jobs. And in 2024 I think you’ll start to see some of that mist clear. Can AI be used to really drive forward productivity gains, without large swathes of the workforce losing their jobs? That will be a key policy challenge, but that could make sure that we can all have rising standards of living.

PL: You’re right, I think the economist agree with you. I think it was their word of the year, ChatGPT? Frances, your thoughts?

FH: I think a lot of it’s actually been covered. I’m absolutely with everyone on this one: we need some stability, and we need some focus on long-term goals. We’ve talked about planning and that is going to take time, and it’s going to be very hard for any one government; you need much more of a consensus view on that. So I’d love to be able to see some kind of consensus view on planning – that would be fantastic. I have to say, I’m slightly sceptical, but you never know, we can all hope. On the investment side, I was really pleased to hear about the amount of money from [announced at the Global Investment Summit at] Hampton Court, £29.5m, and lots of investment coming from Nissan as well, which is set up near Iain’s neck of the woods. So there are positives there. Investment is key, so more of that would be fantastic.

And then I really do think we need to think about how we better skill the workforce – AI is coming. And you know, it can be extremely useful. I think it could be used with an awful lot of jobs to help make those more productive. Particularly in the NHS, actually, I think it could work really well for them. But there are always going to be some jobs that will be at risk, and it’s just thinking about how we deal with that. How do we set up some policies that will help to reskill those people? I think that’s very important.

PL: Frances, Iain, David, thanks so much. It’s always fascinating to get your analysis and predictions – can we book you for a year’s time? Because then we could check in on what was right and what was wrong and, of course, what the UK looks like on the other side of a general election. Well, we think it’s going to be, don’t we, before January next year?

The Insights In focus series returns later this month to discuss the progress or perhaps lack of progress on audit reform in the UK. And in February we’ll be back to share the latest news and developments from right across accountancy and ICAEW. Thanks for being with us today. If you’re finding these podcasts useful, please do subscribe to the series on your app and you’ll never miss an episode.

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