Confidence among accountants has reached the highest level that it has been at in the last three years, according to recent figures.
The Institute of Chartered Accountants in England and Wales (ICAEW)/Orange UK Business Confidence Monitor rose by +7.4 in the last quarter, up from +5.2 to 12.6+.
This figure reflects the optimism over the resilience of the economy and the 2p cut in corporation tax that Gordon Brown announced in the Budget, according to the ICAEW.
The chief executive of the ICAEW, Michael Izza, said: "Our members have become more optimistic in their expectations for turnover and profit growth.
"They remain confident that strong sales volumes will continue to drive profits, despite consumer indebtedness, over the next 12 months."
However, if the interest rates rise further in the next few months then this could result in the housing market slowing, he added.
Earlier this month the monetary policy committee of the Bank of England raised the rate a quarter point to 5.5 per cent.
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