Data - Extract-Jul-2010 QBE Business Sentiment Survey

Extracts from QBE SME Research June 2010
PRESS RELEASE
QBE’s FOURTH BUSINESS SENTIMENT SURVEY

DATA EXTRACT
London, 15 July 2010
About QBE’s Fourth Business Sentiment Survey

Data were collected by The Survey Shop in June 2010. A total of 406 interviews were
conducted by telephone using quota sampling. Respondents were qualified as owners,
managers and decision-makers, and the data are representative of SMEs in UK and
Ireland. The data are representative of SMEs in the UK and Ireland, grouped by region
(East, London, Midlands & Wales, North Midlands, North West, Scotland, South West,
Yorkshire & North East and Ireland) and by number of employees (Up to 10, 10 to 49 and
50 to 250).
About QBE
Founded in Australia over 100 years ago, QBE Insurance Group is a specialist business
insurer, now operating out of 48 countries across the globe. We have been active in the UK
since 1904, orginally within the marine insurance market, but branching out more recently to
offer commercial insurance to companies across the UK. At the end of 2009, the Group’s
turnover was over £7bn, making it one of the largest insurance firms in the UK.
We provide insurance for a broad range of business categories, including property, motor
(commercial, bus and fleet), employers’, public and product liability insurance,
professional indemnity, leisure and sport, marine, energy, aviation, and specialty
insurance, including bloodstock.
In the UK QBE is rated a leading insurer for claims service,* scored above average in all
five key measures of insurer performance**: and best insurer for Commercial Motor***
* December 2009, source: Gracechurch Survey

**Source: Insurance Times Commercial Broker Survey 2009
***Source: Post Magazine 360 Commercial Broker Survey 2009
Page 1 of 50
PRESS RELEASE
QBE is proud to be the official insurance partner of Premiership Rugby and England.
These partnerships with two elite properties in the sport will allow QBE’s brand to
continue to develop and business to grow
-ENDS-
For further information please contact:

Sandra Villanueva, QBE European Operations
Tel:+44 20 7105 4428; email sandra.villanueva@uk.qbe.com
Samantha Whiteley, Haggie Financial

Tel: + 44 20 7417 8989; email Samantha.Whiteley@haggie.co.uk
Henny Breakwell, Haggie Financial

Tel: +44 20 7417 8989 email: Henny.Breakwell@haggie.co.uk
Follow us on Twitter @ http://twitter.com/QBEeo
Page 2 of 50
PRESS RELEASE
How long do you expect it will before we see full economic recovery in [the UK / Ireland]? (one)
Base = all Region

London &
Eastern Midlands North North South Yorks/ Southern
All South Scotland
England & Wales midlands West west N. East Ireland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
6 months 1% 0% 0% 5% 0% 0% 3% 3% 0% 1%
12 months 13% 21% 23% 16% 5% 3% 8% 8% 22% 12%
18 months 12% 13% 8% 5% 19% 18% 10% 13% 11% 10%
2 years 60% 58% 46% 62% 59% 66% 63% 71% 41% 65%
Don’t know 15% 8% 23% 11% 16% 13% 18% 5% 27% 13%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 3 of 50
PRESS RELEASE
Base = all Region II

Yorkshire
Midlands & London & Eastern Southern
All North West Scotland South west or the North
Wales South East England Ireland
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
6 months 1% 3% 0% 3% 0% 0% 3% 0% 1%
12 months 13% 11% 3% 8% 23% 21% 8% 22% 12%
18 months 12% 12% 18% 10% 8% 13% 13% 11% 10%
2 years 60% 61% 66% 63% 46% 58% 71% 41% 65%
Don’t know 15% 14% 13% 18% 23% 8% 5% 27% 13%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 4 of 50
PRESS RELEASE
Base = all Country No of Employees
All UK Ireland 1 to 9 10 to 49 50 to 249
(406) (304) (102) (301) (87) (18)
6 months 1% 1% 1% 1% 2% 0%
12 months 13% 13% 12% 12% 18% 0%
18 months 12% 12% 10% 11% 10% 28%
2 years 60% 58% 65% 62% 55% 44%
Don’t know 15% 15% 13% 14% 14% 28%
Column total 100% 100% 100% 100% 100% 100%
Page 5 of 50
PRESS RELEASE
Base = all Main business sector

Building / Business / Financial IT, media/ Leisure / Manufng / Retail &
All Other
const. prof. services printing catering Eng Distn.
(406) (42) (110) (19) (42) (42) (41) (59) (51)
6 months 1% 2% 1% 5% 2% 0% 0% 0% 2%
12 months 13% 7% 13% 11% 17% 7% 20% 15% 12%
18 months 12% 14% 13% 21% 10% 5% 27% 7% 4%
2 years 60% 48% 65% 53% 67% 60% 41% 61% 71%
Don’t know 15% 29% 9% 11% 5% 29% 12% 17% 12%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 6 of 50
PRESS RELEASE
Following the down-turn, how do you expect your business to perform in the next 6 months? (one)
Base = all Region

London &
Eastern Midlands North North South Yorks/ N. Southern
All South Scotland
England & Wales midlands West west East Ireland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Sales turnover to increase
5% 8% 3% 8% 5% 0% 10% 3% 11% 2%
greatly in the next 6 months
Sales turnover to increase a
27% 32% 18% 32% 32% 32% 28% 24% 30% 25%
little in the next 6 months
Sales turnover to stay the
45% 50% 49% 35% 35% 53% 38% 55% 41% 46%
same in the next 6 months
Sales turnover to decrease a
18% 8% 23% 14% 24% 16% 20% 18% 11% 22%
5% 3% 8% 11% 3% 0% 5% 0% 8% 6%
great deal in the next 6 months
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 7 of 50
PRESS RELEASE

Yorkshire
London &
Midlands North Eastern South or the Southern
All Scotland South
& Wales West England west North Ireland
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)

5% 7% 0% 10% 3% 8% 3% 11% 2%
27% 32% 32% 28% 18% 32% 24% 30% 25%
45% 35% 53% 38% 49% 50% 55% 41% 46%
18% 19% 16% 20% 23% 8% 18% 11% 22%
5% 7% 0% 5% 8% 3% 0% 8% 6%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 8 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)

5% 6% 2% 4% 8% 0%
27% 28% 25% 27% 30% 22%
45% 44% 46% 45% 43% 61%
18% 17% 22% 18% 17% 17%
5% 5% 6% 6% 2% 0%
Column total 100% 100% 100% 100% 100% 100%
Page 9 of 50
PRESS RELEASE

Building Business Financial IT, media/ Leisure / Manufng / Retail &
All Other
/ const. / prof. services printing catering Eng Distn.
(406) (42) (110) (19) (42) (42) (41) (59) (51)

5% 12% 3% 0% 10% 0% 5% 5% 6%
27% 14% 27% 47% 33% 33% 34% 25% 18%
45% 52% 48% 32% 33% 31% 39% 51% 55%
18% 17% 15% 21% 19% 31% 20% 15% 14%
5% 5% 6% 0% 5% 5% 2% 3% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 10 of 50
PRESS RELEASE
Does your company expect to hire more staff in 2010?
Base = all Region

London &
All South Scotland
England & Wales midlands West West N. East Ireland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Yes 15% 26% 13% 16% 19% 11% 25% 5% 16% 9%
No 85% 74% 87% 84% 81% 89% 75% 95% 84% 91%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 11 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Yes 15% 18% 11% 25% 13% 26% 5% 16% 9%
No 85% 82% 89% 75% 87% 74% 95% 84% 91%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 12 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)
Yes 15% 16% 9% 11% 28% 6%
No 85% 84% 91% 89% 72% 94%
Column total 100% 100% 100% 100% 100% 100%
Page 13 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Yes 15% 17% 16% 11% 26% 14% 17% 5% 10%
No 85% 83% 84% 89% 74% 86% 83% 95% 90%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 14 of 50
PRESS RELEASE
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business to
survive? (one)
Base = all Region

London
All & South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Not difficult at all 44% 61% 44% 35% 46% 53% 48% 42% 49% 34%
Difficult 32% 29% 28% 24% 41% 32% 33% 39% 32% 32%
Very difficult 15% 8% 18% 24% 8% 5% 8% 13% 16% 22%

Extreme difficulty – very
7% 0% 10% 14% 5% 8% 8% 5% 3% 8%
unlikely to survive
Not stated 2% 3% 0% 3% 0% 3% 5% 0% 0% 4%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 15 of 50
PRESS RELEASE
survive? (one)

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Not difficult at all 44% 41% 53% 48% 44% 61% 42% 49% 34%
Difficult 32% 32% 32% 33% 28% 29% 39% 32% 32%
Very difficult 15% 16% 5% 8% 18% 8% 13% 16% 22%

7% 9% 8% 8% 10% 0% 5% 3% 8%
unlikely to survive
Not stated 2% 1% 3% 5% 0% 3% 0% 0% 4%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 16 of 50
PRESS RELEASE
survive? (one)
(406) (304) (102) (301) (87) (18)
Not difficult at all 44% 47% 34% 43% 44% 56%
Difficult 32% 32% 32% 32% 33% 33%
Very difficult 15% 13% 22% 15% 15% 6%

7% 7% 8% 8% 6% 0%
unlikely to survive
Not stated 2% 2% 4% 2% 2% 6%
Column total 100% 100% 100% 100% 100% 100%
Page 17 of 50
PRESS RELEASE
If current conditions were to continue for another twelve months how difficult or otherwise would it be for your business
to survive? (one)

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Not difficult at all 44% 36% 49% 63% 40% 36% 27% 49% 49%
Difficult 32% 29% 28% 32% 31% 33% 46% 29% 37%
Very difficult 15% 21% 15% 5% 17% 24% 12% 10% 10%
7% 12% 6% 0% 5% 5% 10% 10% 4%
unlikely to survive
Not stated 2% 2% 1% 0% 7% 2% 5% 2% 0%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 18 of 50
PRESS RELEASE
In the current environment, how easy is it, or how easy would you expect it to be, for you to access commercial credit?
(one)
Base = all Region

London
All & South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Very easy 2% 0% 3% 5% 3% 5% 0% 3% 0% 1%
Easy 6% 13% 3% 11% 8% 3% 10% 3% 8% 3%

Same as in previous
37% 45% 41% 35% 30% 42% 40% 34% 51% 27%
times
Difficult 26% 18% 18% 14% 27% 24% 33% 42% 16% 30%
Very difficult 26% 21% 36% 35% 30% 11% 13% 13% 19% 37%
Not stated 4% 3% 0% 0% 3% 16% 5% 5% 5% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 19 of 50
PRESS RELEASE
(one)

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Very easy 2% 4% 5% 0% 3% 0% 3% 0% 1%
Easy 6% 9% 3% 10% 3% 13% 3% 8% 3%
Same as in previous times 37% 32% 42% 40% 41% 45% 34% 51% 27%
Difficult 26% 20% 24% 33% 18% 18% 42% 16% 30%
Very difficult 26% 32% 11% 13% 36% 21% 13% 19% 37%
Not stated 4% 1% 16% 5% 0% 3% 5% 5% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 20 of 50
PRESS RELEASE
(one)
(406) (304) (102) (301) (87) (18)
Very easy 2% 2% 1% 2% 0% 6%
Easy 6% 7% 3% 7% 6% 0%
Same as in previous times 37% 40% 27% 37% 39% 22%
Difficult 26% 24% 30% 24% 29% 44%
Very difficult 26% 22% 37% 26% 25% 28%
Not stated 4% 5% 1% 5% 1% 0%
Column total 100% 100% 100% 100% 100% 100%
Page 21 of 50
PRESS RELEASE
(one)

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Very easy 2% 0% 3% 0% 5% 2% 5% 0% 0%
Easy 6% 14% 6% 0% 2% 5% 2% 7% 8%
Same as in previous times 37% 38% 35% 42% 45% 29% 37% 32% 41%
Difficult 26% 24% 26% 32% 17% 29% 27% 31% 22%
Very difficult 26% 21% 28% 16% 26% 36% 27% 25% 20%
Not stated 4% 2% 1% 11% 5% 0% 2% 5% 10%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 22 of 50
PRESS RELEASE
Which of the following would you say appear to have been the benefits of having experienced the downturn? (any)
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Now a more competitive

46% 42% 33% 46% 51% 42% 58% 32% 49% 53%
business
Now a leaner business 42% 37% 33% 54% 43% 39% 45% 42% 27% 46%
Greater awareness of
39% 47% 49% 38% 49% 37% 35% 29% 43% 34%
individual customer’s needs
Now a more efficient business 39% 34% 33% 30% 49% 45% 40% 37% 32% 44%
New market or markets

26% 26% 23% 38% 24% 37% 23% 24% 22% 22%
identified
Reduced costs from some
21% 24% 8% 5% 16% 16% 23% 11% 16% 39%
suppliers
Developed a new product or
service that appears to have 18% 24% 10% 16% 22% 13% 28% 24% 14% 16%
long-term potential
Page 23 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)

46% 49% 42% 58% 33% 42% 32% 49% 53%
business
Now a leaner business 42% 49% 39% 45% 33% 37% 42% 27% 46%
39% 43% 37% 35% 49% 47% 29% 43% 34%
Now a more efficient business 39% 39% 45% 40% 33% 34% 37% 32% 44%

26% 31% 37% 23% 23% 26% 24% 22% 22%
identified
21% 11% 16% 23% 8% 24% 11% 16% 39%
suppliers
service that appears to have 18% 19% 13% 28% 10% 24% 24% 14% 16%
long-term potential
Page 24 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)

46% 44% 53% 44% 53% 50%
business
Now a leaner business 42% 40% 46% 41% 45% 33%
39% 41% 34% 39% 40% 39%
Now a more efficient business 39% 38% 44% 35% 52% 50%
26% 27% 22% 23% 32% 33%
identified
21% 15% 39% 20% 21% 33%
suppliers
service that appears to have 18% 19% 16% 19% 20% 0%
long-term potential
Page 25 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)

46% 55% 44% 47% 38% 43% 56% 59% 31%
business
Now a leaner business 42% 55% 29% 53% 36% 40% 56% 56% 31%
39% 45% 34% 42% 19% 36% 46% 53% 43%
Now a more efficient business 39% 43% 35% 37% 31% 33% 44% 56% 33%
26% 33% 25% 21% 14% 24% 37% 27% 24%
identified
21% 21% 18% 5% 26% 31% 12% 31% 16%
suppliers
service that appears to have 18% 19% 18% 11% 14% 17% 29% 15% 18%
long-term potential
Page 26 of 50
PRESS RELEASE
What effect would an increase or increases in interest rates mean for your business? (one)
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Major problem 21% 13% 21% 38% 19% 13% 10% 26% 22% 23%
Small problem 31% 37% 36% 27% 38% 26% 33% 16% 27% 35%
No impact 37% 37% 28% 22% 32% 39% 50% 53% 32% 36%
Small positive benefit 6% 11% 13% 11% 5% 5% 5% 5% 8% 2%
Major positive benefit 1% 3% 0% 3% 0% 3% 0% 0% 3% 1%
Don’t know 3% 0% 3% 0% 5% 13% 0% 0% 8% 2%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 27 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Major problem 21% 28% 13% 10% 21% 13% 26% 22% 23%
Small problem 31% 32% 26% 33% 36% 37% 16% 27% 35%
No impact 37% 27% 39% 50% 28% 37% 53% 32% 36%
Small positive benefit 6% 8% 5% 5% 13% 11% 5% 8% 2%
Major positive benefit 1% 1% 3% 0% 0% 3% 0% 3% 1%
Don’t know 3% 3% 13% 0% 3% 0% 0% 8% 2%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 28 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)
Major problem 21% 20% 23% 20% 25% 17%
Small problem 31% 30% 35% 31% 30% 44%
No impact 37% 37% 36% 39% 31% 22%
Small positive benefit 6% 8% 2% 6% 9% 6%
Major positive benefit 1% 1% 1% 2% 0% 0%
Don’t know 3% 4% 2% 3% 3% 11%
Column total 100% 100% 100% 100% 100% 100%
Page 29 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Major problem 21% 26% 16% 11% 7% 40% 22% 24% 20%
Small problem 31% 36% 32% 32% 31% 31% 34% 34% 22%
No impact 37% 36% 37% 47% 48% 19% 37% 32% 43%
Don’t know 3% 0% 3% 5% 2% 2% 0% 5% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 30 of 50
PRESS RELEASE
What would a rise in inflation mean for your business? (one)
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Major problem 20% 16% 23% 35% 14% 16% 13% 26% 24% 17%
Small problem 45% 50% 36% 46% 54% 37% 53% 37% 41% 48%
No impact 26% 32% 31% 16% 16% 29% 33% 29% 22% 26%
Small positive benefit 3% 0% 5% 3% 3% 3% 0% 3% 5% 5%
Major positive benefit 1% 0% 0% 0% 0% 5% 0% 3% 0% 1%
Don’t know 5% 3% 5% 0% 14% 11% 3% 3% 5% 3%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 31 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Major problem 20% 24% 16% 13% 23% 16% 26% 24% 17%
Small problem 45% 50% 37% 53% 36% 50% 37% 41% 48%
No impact 26% 16% 29% 33% 31% 32% 29% 22% 26%
Don’t know 5% 7% 11% 3% 5% 3% 3% 5% 3%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 32 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)
Major problem 20% 21% 17% 18% 29% 11%
Small problem 45% 44% 48% 46% 39% 56%
No impact 26% 26% 26% 28% 22% 17%
Small positive benefit 3% 3% 5% 3% 2% 6%
Major positive benefit 1% 1% 1% 1% 2% 0%
Don’t know 5% 5% 3% 4% 6% 11%
Column total 100% 100% 100% 100% 100% 100%
Page 33 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Major problem 20% 31% 14% 0% 19% 36% 22% 20% 16%
Small problem 45% 33% 38% 58% 48% 38% 51% 54% 53%
No impact 26% 24% 36% 37% 31% 14% 24% 15% 22%
Don’t know 5% 10% 5% 5% 2% 5% 0% 3% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 34 of 50
PRESS RELEASE
In which of the following areas, if any, do you think the government should cut spending to reduce the national deficit?
[rotate]
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Local government 52% 55% 41% 54% 59% 63% 50% 53% 49% 48%
Overseas Aid 50% 53% 41% 54% 59% 68% 43% 61% 73% 32%
Welfare 43% 32% 41% 51% 51% 39% 33% 45% 54% 43%
Defence 31% 37% 31% 30% 24% 32% 30% 29% 24% 36%
Equal cuts across the board

29% 21% 28% 22% 43% 29% 33% 34% 22% 29%
(5% / 10% / 15% etc)
Infrastructure/Transport 18% 16% 21% 11% 24% 18% 13% 21% 30% 17%
Health 13% 16% 10% 14% 16% 13% 8% 21% 5% 12%
Education 8% 3% 8% 8% 14% 11% 8% 13% 8% 5%
Page 35 of 50
PRESS RELEASE
[rotate]

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Local government 52% 57% 63% 50% 41% 55% 53% 49% 48%
Overseas Aid 50% 57% 68% 43% 41% 53% 61% 73% 32%
Welfare 43% 51% 39% 33% 41% 32% 45% 54% 43%
Defence 31% 27% 32% 30% 31% 37% 29% 24% 36%

29% 32% 29% 33% 28% 21% 34% 22% 29%
(5% / 10% / 15% etc)
Infrastructure/Transport 18% 18% 18% 13% 21% 16% 21% 30% 17%
Health 13% 15% 13% 8% 10% 16% 21% 5% 12%
Education 8% 11% 11% 8% 8% 3% 13% 8% 5%
Page 36 of 50
PRESS RELEASE
[rotate]
(406) (304) (102) (301) (87) (18)
Local government 52% 53% 48% 52% 55% 33%
Overseas Aid 50% 56% 32% 51% 49% 33%
Welfare 43% 43% 43% 43% 46% 28%
Defence 31% 30% 36% 31% 33% 22%

29% 29% 29% 29% 26% 44%
(5% / 10% / 15% etc)
Infrastructure/Transport 18% 19% 17% 20% 17% 6%
Health 13% 13% 12% 14% 9% 11%
Education 8% 9% 5% 8% 8% 6%
Page 37 of 50
PRESS RELEASE
[rotate]

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Local government 52% 48% 56% 53% 45% 57% 61% 53% 37%
Overseas Aid 50% 60% 41% 63% 31% 48% 63% 56% 59%
Welfare 43% 50% 42% 58% 33% 38% 49% 42% 43%
Defence 31% 31% 33% 26% 24% 31% 34% 42% 22%
29% 24% 29% 32% 26% 36% 29% 34% 24%
(5% / 10% / 15% etc)
Infrastructure/Transport 18% 12% 17% 37% 14% 21% 15% 20% 22%
Health 13% 7% 19% 21% 14% 7% 7% 14% 6%
Education 8% 10% 12% 11% 2% 5% 7% 5% 8%
Page 38 of 50
PRESS RELEASE
And in which of the following areas do you think the government should make increases to reduce the national deficit?
[rotate]
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Tobacco and Alcohol Taxes 56% 50% 51% 76% 54% 50% 55% 53% 62% 54%
Income Tax 30% 47% 36% 24% 22% 37% 35% 24% 43% 20%
VAT 29% 47% 31% 41% 30% 45% 33% 34% 35% 7%
Capital Gains Tax 23% 32% 26% 24% 27% 13% 13% 29% 32% 20%
Corporation Tax 20% 16% 15% 19% 16% 21% 25% 16% 22% 24%
Inheritance Tax 19% 34% 13% 24% 8% 13% 13% 18% 19% 22%
National Insurance 19% 21% 18% 16% 14% 18% 25% 21% 30% 14%
Stamp Duty 12% 13% 3% 14% 11% 13% 13% 18% 19% 9%
Petrol and Diesel fuel duty 11% 13% 13% 11% 8% 13% 10% 16% 8% 11%
Page 39 of 50
PRESS RELEASE
[rotate]

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)
Tobacco and Alcohol Taxes 56% 65% 50% 55% 51% 50% 53% 62% 54%
Income Tax 30% 23% 37% 35% 36% 47% 24% 43% 20%
VAT 29% 35% 45% 33% 31% 47% 34% 35% 7%
Capital Gains Tax 23% 26% 13% 13% 26% 32% 29% 32% 20%
Corporation Tax 20% 18% 21% 25% 15% 16% 16% 22% 24%
Inheritance Tax 19% 16% 13% 13% 13% 34% 18% 19% 22%
National Insurance 19% 15% 18% 25% 18% 21% 21% 30% 14%
Stamp Duty 12% 12% 13% 13% 3% 13% 18% 19% 9%
Petrol and Diesel fuel duty 11% 9% 13% 10% 13% 13% 16% 8% 11%
Page 40 of 50
PRESS RELEASE
[rotate]
(406) (304) (102) (301) (87) (18)
Tobacco and Alcohol Taxes 56% 56% 54% 54% 66% 39%
Income Tax 30% 34% 20% 30% 31% 28%
VAT 29% 37% 7% 29% 29% 33%
Capital Gains Tax 23% 24% 20% 22% 25% 28%
Corporation Tax 20% 19% 24% 20% 22% 11%
Inheritance Tax 19% 18% 22% 18% 22% 17%
National Insurance 19% 20% 14% 19% 17% 28%
Stamp Duty 12% 13% 9% 11% 15% 17%
Petrol and Diesel fuel duty 11% 12% 11% 10% 13% 22%
Page 41 of 50
PRESS RELEASE
[rotate]

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)
Tobacco and Alcohol Taxes 56% 60% 56% 74% 40% 52% 56% 58% 57%
Income Tax 30% 29% 35% 16% 33% 29% 17% 29% 35%
VAT 29% 45% 30% 32% 24% 19% 46% 22% 22%
Capital Gains Tax 23% 26% 25% 21% 21% 26% 17% 15% 29%
Corporation Tax 20% 19% 23% 16% 14% 31% 15% 24% 12%
Inheritance Tax 19% 24% 23% 16% 10% 21% 15% 20% 14%
National Insurance 19% 21% 19% 11% 19% 26% 10% 22% 16%
Stamp Duty 12% 10% 7% 21% 5% 26% 17% 12% 10%
Petrol and Diesel fuel duty 11% 17% 12% 21% 17% 7% 2% 7% 14%
Page 42 of 50
PRESS RELEASE
Which of the following best describes the effect on your business if the problems facing the Euro were to continue for
another six months? (one)
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
It would present us with major

6% 5% 8% 0% 11% 8% 5% 5% 3% 9%
problems
It would present us with some
15% 8% 15% 16% 14% 16% 20% 8% 14% 17%
problems
It would have no overall effect 68% 84% 67% 73% 57% 53% 65% 79% 65% 68%
It would be likely to help our

5% 0% 3% 0% 8% 8% 5% 5% 5% 6%
business a little
0.2% 0% 0% 0% 3% 0% 0% 0% 0% 0%
business a great deal
Don’t know / other 6% 3% 8% 8% 8% 16% 5% 3% 14% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 43 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)

6% 5% 8% 5% 8% 5% 5% 3% 9%
problems
15% 15% 16% 20% 15% 8% 8% 14% 17%
problems
It would have no overall effect 68% 65% 53% 65% 67% 84% 79% 65% 68%

5% 4% 8% 5% 3% 0% 5% 5% 6%
business a little
0.2% 1% 0% 0% 0% 0% 0% 0% 0%
Don’t know / other 6% 8% 16% 5% 8% 3% 3% 14% 1%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 44 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)

6% 6% 9% 8% 2% 6%
problems
15% 14% 17% 14% 17% 11%
problems
It would have no overall effect 68% 68% 68% 69% 63% 61%
5% 4% 6% 3% 7% 17%
business a little
0.2% 0% 0% 0% 1% 0%
Don’t know / other 6% 8% 1% 5% 9% 6%
Column total 100% 100% 100% 100% 100% 100%
Page 45 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)

6% 2% 7% 0% 2% 12% 5% 7% 10%
problems
15% 12% 6% 11% 17% 19% 17% 29% 12%
problems
It would have no overall effect 68% 71% 78% 74% 74% 60% 63% 51% 65%
5% 7% 4% 5% 0% 5% 5% 8% 4%
business a little
0.2% 2% 0% 0% 0% 0% 0% 0% 0%
Don’t know / other 6% 2% 5% 11% 7% 5% 10% 5% 10%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 46 of 50
PRESS RELEASE
Do you think that for your business it is better for some European countries to continue to have a common currency or
would it better for your business if each country reverted to having its own currency? (one)
Base = all Region

London &
All South Scotland
East
(406) (38) (39) (37) (37) (38) (40) (38) (37) (102)
Better for our business if the

23% 11% 13% 5% 14% 21% 25% 13% 11% 51%
Euro were to continue
Neither option would have any
45% 55% 51% 59% 46% 42% 38% 61% 41% 31%
effect on our business
Better for our business if
countries reverted to having 18% 26% 18% 22% 24% 13% 20% 21% 27% 10%
their own currencies
Don’t know 14% 8% 18% 14% 16% 24% 18% 5% 22% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 47 of 50
PRESS RELEASE

Yorkshire
London &
All Scotland South
East
East
(406) (74) (38) (40) (39) (38) (38) (37) (102)

23% 9% 21% 25% 13% 11% 13% 11% 51%
45% 53% 42% 38% 51% 55% 61% 41% 31%
countries reverted to having 18% 23% 13% 20% 18% 26% 21% 27% 10%
Don’t know 14% 15% 24% 18% 18% 8% 5% 22% 8%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 48 of 50
PRESS RELEASE
(406) (304) (102) (301) (87) (18)

23% 14% 51% 24% 22% 28%
45% 49% 31% 46% 43% 28%
countries reverted to having 18% 21% 10% 17% 20% 39%
Don’t know 14% 15% 8% 13% 16% 6%
Column total 100% 100% 100% 100% 100% 100%
Page 49 of 50
PRESS RELEASE

All Other
(406) (42) (110) (19) (42) (42) (41) (59) (51)

23% 12% 19% 32% 38% 26% 22% 39% 8%
45% 48% 60% 47% 29% 38% 37% 32% 47%
countries reverted to having 18% 31% 11% 0% 17% 29% 22% 15% 25%
Don’t know 14% 10% 10% 21% 17% 7% 20% 14% 20%
Column total 100% 100% 100% 100% 100% 100% 100% 100% 100%
Page 50 of 50

Data - Extract-Jul-2010 QBE Business Sentiment Survey

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Extracts from QBE SME Research June 2010

QBE’s FOURTH BUSINESS SENTIMENT SURVEY

London, 15 July 2010

About QBE’s Fourth Business Sentiment Survey

* December 2009, source: Gracechurch Survey

For further information please contact:

Samantha Whiteley, Haggie Financial

Henny Breakwell, Haggie Financial

Follow us on Twitter @ http://twitter.com/QBEeo

Base = all Region

12 months 13% 21% 23% 16% 5% 3% 8% 8% 22% 12%

18 months 12% 13% 8% 5% 19% 18% 10% 13% 11% 10%

Base = all Region II

12 months 13% 11% 3% 8% 23% 21% 8% 22% 12%

18 months 12% 12% 18% 10% 8% 13% 13% 11% 10%

Don’t know 15% 14% 13% 18% 23% 8% 5% 27% 13%

Base = all Country No of Employees

All UK Ireland 1 to 9 10 to 49 50 to 249

(406) (304) (102) (301) (87) (18)

12 months 13% 13% 12% 12% 18% 0%

18 months 12% 12% 10% 11% 10% 28%

2 years 60% 58% 65% 62% 55% 44%

Don’t know 15% 15% 13% 14% 14% 28%

Column total 100% 100% 100% 100% 100% 100%

Base = all Main business sector

12 months 13% 7% 13% 11% 17% 7% 20% 15% 12%

18 months 12% 14% 13% 21% 10% 5% 27% 7% 4%

Don’t know 15% 29% 9% 11% 5% 29% 12% 17% 12%

Base = all Region

Base = all Region II

(406) (74) (38) (40) (39) (38) (38) (37) (102)

Base = all Country No of Employees

All UK Ireland 1 to 9 10 to 49 50 to 249

(406) (304) (102) (301) (87) (18)

Base = all Main business sector

(406) (42) (110) (19) (42) (42) (41) (59) (51)

Does your company expect to hire more staff in 2010?

Base = all Region

Yes 15% 26% 13% 16% 19% 11% 25% 5% 16% 9%

Does your company expect to hire more staff in 2010?

Base = all Region II

(406) (74) (38) (40) (39) (38) (38) (37) (102)

Yes 15% 18% 11% 25% 13% 26% 5% 16% 9%

No 85% 82% 89% 75% 87% 74% 95% 84% 91%

Does your company expect to hire more staff in 2010?

Base = all Country No of Employees

All UK Ireland 1 to 9 10 to 49 50 to 249

(406) (304) (102) (301) (87) (18)

Yes 15% 16% 9% 11% 28% 6%

No 85% 84% 91% 89% 72% 94%

Column total 100% 100% 100% 100% 100% 100%

Does your company expect to hire more staff in 2010?

Base = all Main business sector

(406) (42) (110) (19) (42) (42) (41) (59) (51)

Yes 15% 17% 16% 11% 26% 14% 17% 5% 10%

No 85% 83% 84% 89% 74% 86% 83% 95% 90%

Base = all Region

Very difficult 15% 8% 18% 24% 8% 5% 8% 13% 16% 22%

Base = all Region II

(406) (74) (38) (40) (39) (38) (38) (37) (102)

Very difficult 15% 16% 5% 8% 18% 8% 13% 16% 22%

Base = all Country No of Employees

All UK Ireland 1 to 9 10 to 49 50 to 249