Chairmen have pessimistic view of next 12 months

Three-quarters of chairmen at the UK's biggest retailers are pessimistic about the economy over the next year, with most urging the Government to take "practical steps" to boost consumer confidence.

The bosses laid out 10 key messages to "shift the mood of the nation", including supporting banks to facilitate lending to business, attracting inward investment, and reducing the regulatory burden for retailers, according to the survey from headhunters Korn/Ferry Whitehead Mann. Three-quarters were "quite pessimistic or very pessimistic" about the prospects for the economy over the next year.