Deloitte’s latest survey of UK Chief Financial Officers (CFOs), conducted in the second half of September 2025, shows that CFO expectations for operating costs have risen to the highest level in more than four years.
According to the survey, a net 84% of finance leaders expect operating costs to rise over the next 12 months.
Geopolitics has also rated as a top concern for CFOs in all but two quarters since the invasion of Ukraine. However, CFOs now attach a slightly lower risk rating to geopolitics, with an average score of 62, down from 71 in the previous quarter.
Meanwhile concerns about UK productivity and competitiveness have risen to the highest level since Deloitte began asking this question in 2014 and now rank joint first with geopolitics on the CFO risk list, with a weighted average rating of 62.
Read more on their website