Will City losses hurt shooting?
The Centre for Economic and Business Research (CEBR) has reported that some 6,500 financial services jobs could be lost in the UK in 2008. The CEBR also predicts that bonuses will fall by an average of 16% to a total of £7.4bn from last year’s record of £8.8bn.
Ben Dear, managing director of financial markets search consultancy Mantis Partners, told Shooting Times: “The bonus climate for this year is uncertain, but there isn’t a dark depression hanging over all parts of the City. Though many business areas have enjoyed record years, unfortunately for those within these areas, their bonuses are linked not just to individual or desk performance, but to the bank as a whole.”
So how will this affect the shooting industry?
“To be honest, there won’t be any net down effect in the amount of days booked each year – if anything, shoot and estate owners will continue to enjoy increased demand,” said Mr Dear, himself a keen Shot. “The past five years have seen record bonuses and, as such, more people have been entering the sport, either as a guest Gun or, in the lucky case of a few of the gifted and gilded hedge fund managers, through the acquisition of some trophy grouse moors.”
The rest of this article appears in 20 December issue of Shooting Times.