The good news is that the first quarter of 2010 saw investment by UK businesses rise by 7.8% compared to the previous quarter, the fastest rate since 1987, according to the Office for National Statistics.
 
The not so good news is business investment is still 7.7% lower than the same period in 2009.
 
In addition, the UK financial services sector grew at the fastest rate since September 2007 during the second quarter of 2010, according to the Confederation of British Industry.
 
However, the growth was much lower than expected and firms still feel that business levels are well below normal.

Francis Clark has offices in Exeter, Plymouth, Salisbury, Taunton, Tavistock, Torquay and Truro. Francis Clark is the winner of the ‘Auditor of the Year - Mid Tier’ in the National Financial Directors’ Excellence Awards 2011, and LexisNexis Best General Tax Practice Award 2009. More information is available by logging on at our Online Information Centre