UK rises up the rankings for ease of doing business - survey

People enjoy warm weather in front of the city of London financial district in London
People enjoy warm weather in front of the city of London financial district in London, Britain, May 18, 2022. REUTERS/Hannah McKay

LONDON, June 28 (Reuters) - Britain has become an easier place to do business thanks in part to its response to the COVID-19 pandemic which provided more flexibility to employers, according to a survey published on Tuesday.

Britain was among the 10 countries considered the least complex for companies this year, a jump of 15 places in the rankings from 2021, TMF Group, a multinational professional services firm, said.

"It's unusual to see such a sharp rise in a country ranking," Mark Weil, TMF's chief executive said.

"We attribute it to COVID response and how far the UK government ... was able to move processes online and streamline them which has the consequence of making it significantly easier to operate and invest the UK, other things being equal."

Weil said the survey did not include issues related to Brexit or the recent fall in the value of the pound.

Britain's coronavirus response measures included direct support payments to companies to keep workers on their payrolls, and which did not include restrictions on dismissing workers during the pandemic if needed.

Britain also adopted relaxed deadlines for tax and accounting filing and its progress in digitising public services provided flexibility to firms when the pandemic hit, TMF said.

Writing by William Schomberg; editing by William James

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