Profession
The recession will be over in two years but more regulation is required, according to inhouse counsel.
Research carried out by Pinsent Masons in March- April 2009 into the practices and policies UK businesses are implementing in order to survive the economic downturn found in-house counsel broadly optimistic.
Some 63% of senior executives and in-house counsel at 200 UK corporations expect an increase in turnover, while 60% expect profits to increase or stay the same, and 58% expect no change in M&A activity.
Among in-house counsel, 85% say increased regulation is a price worth paying to ensure stability in banking and finance, and one quarter cite the availability of more credit as the single most important factor to improve business confidence. More than threequarters agreed that bonuses and large redundancy packages are here to stay.
Eighty-eight per cent of in-house counsel also believe major London infrastructure projects like Crossrail will improve the attractiveness of London as a business centre. Sixty-three per cent think London 2012 will improve the competitiveness and attractiveness of London as a business centre.
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