The news that Barclays is tightening its lending criteria to a UK economy that is lagging behind the rest of the world is disturbing.
It’s an early indicator of how the shape of the economy may be changing and how lenders, as well as other key players are responding.
For although a high priority for finance directors is export markets, the domestic market is also important and if consumer demand slows it could be part of a Brexit double whammy-weaker external and internal markets.
The problem may yet prove to be one of short term uncertainty- an issue that still creates considerable challenges for FDs seeking to plan for the future.
But the concerns of business are starting to be heard. A delegation of leading European business leaders met Theresa May this week to press their case. It won’t be the last.
In recent weeks, Financial Director has heard twice from Liberal Democrat leader Sir Vince Cable, from Labour’s Rachel Reeves, chair of the BEIS Committee, and an interview with Shadow City Minister Jonathan Reynolds is scheduled for later this month.
But senior Government politicians have yet to engage with Financial Director– which should be noted by all FDs seeking assurance in these uncertain times.