RE: The visions10 Aug 2023 11:02
From the Chairman of S&U (LON:SUS) RNS this morning:
Whilst the Chancellor of the Exchequer may make heroic pleas that "declinism about Britain is just wrong", the past decade has seen persistent government policies which act against a climate of entrepreneurial activity, enterprise, and growth. More recently record levels of taxation, steeply rising interest rates, massive government borrowing, and a failure to stem the tide of incessant regulation, especially in the financial services industry, have all contributed to this. The result has been 10 years of sluggish growth in the UK averaging just half a percent per annum- and a lack of faith in the free enterprise culture.
Although S&U has historically outperformed despite these challenges and will continue to do so, it does not operate in a vacuum. In such an environment protecting the quality of the Group's assets and producing responsible growth requires constant innovation and attention to detail. These produce consistently good results, although frustratingly given global investor perceptions of the UK, this is not reflected in S&U's or general stock values. Too often it feels like a tuned and trained athlete is required to continue to perform, wearing army boots on a cinder track.
(S&U plc is a United Kingdom-based company that is engaged in providing motor, property bridging and specialist finance service)