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Government & the 18Th Annual Global CEO Survey Government & the 18th Annual Global CEO Survey Geopolitical uncertainty on the rise p8 / Making government affordable p16/ Rising to the digital challenge p22 / Investing for growth p36/ Collaborating to deliver outcomes p44 / Reducing the burdens on business p50 / What do public leaders value? p56 / An agenda for action p60 / Meet our interviewees p62 Government and the Global CEO: Delivering outcomes, creating value 72% of CEOs are concerned about geopolitical uncertainty and government responses to fiscal deficits and debts 44% of CEOs, and 49% of state backed CEOs, intend collaborating with government over the next three years to deliver a skilled, adaptable workforce 1,322 CEOs surveyed in over 70 countries and 50 government representatives/ state backed CEOs www.psrc.pwc.com At a glance As the world tries to cope with rising tensions, we remain optimistic that together business and government can At a glance deliver what citizens really want by putting good growth and good jobs at the heart of the purpose and mission of public bodies. Geopolitical Making Rising to the Investing for uncertainty on government digital growth the rise affordable challenge 8 16 22 36 How confident 8 Knowing where the 16 Delivering better for less 23 Demand driven skills, 37 are CEOs? money goes Connectivity in 25 adaptable and diverse workforces CEO perspectives over 9 Modernising government 17 education the years accounting The connected classroom 25 Employer Ownership 37 of Skills Where is growth 10 The elements of a high 18 University 2018 26 coming from? A digital profile? 37 performing Finance Digital: co-design and 27 What keeps CEOs 11 function co-production What is adaptable 39 awake at night? talent? Sustainable cost 19 Sharing data in the 27 What are CEOs’ 13 reduction digital city Investing for growth: 41 priorities for infrastructure government? Achieving sustainable 20 Building digital capacity 28 cost reduction and capability The outlook for 41 How are governments 14 infrastructure performing on these Trust in public finances 21 The Rise of the ‘Digital 29 Department’ Developing investor ready 42 priorities for business? infrastructure projects Data analytics and 31 Implications for 15 business intelligence – government new skills and capacity to provide insight Cybersecurity is now a 33 persistent business risk Is digital having the 34 same impact across the globe? The evolution of global 34 digital governance Government & the Global CEO: Delivering outcomes, creating value 3 Collaborating Reducing the What do public An agenda for Meet our to deliver burdens on leaders value? action interviewees outcomes business 50 60 62 44 56 So is business up for 46 Smarter regulation 51 The challenges for 56 Agenda for action 60 Meet our interviewees 62 more collaboration? Reforming tax 52 public leaders The sharing economy 47 Paying Taxes 2015 52 G2G collaboration 47 The future of tax 53 Foreword Last year, PwC’s 17th Annual Global CEO Survey2 found that CEOs were making changes across their organisations to make their Delivering businesses fit for the future in the context of a reshaping of society’s expectations of business, with CEOs recognising the importance of good outcomes, growth to build and sustain trust. So, what are we exploring this year? The 18th creating value Annual Global CEO Survey has built on this theme and looked at the impact of global megatrends and how successful competitors are moving towards a focus on outcomes: Welcome to ‘Delivering outcomes, creating helping customers, suppliers and partners, as value: Government and the Global CEO’, in well as wider society, achieve desired goals by which we assess the changing relationship harnessing the power of digital technology and between government, business and society. talent diversity and adaptability. Each year, PwC’s Annual Global CEO Survey In turn, with our public sector interviews we captures issues at the top of the business agenda. have looked at how public sector organisations As in past years, we have deepened the research are applying their capabilities to deliver for PwC’s 18th Annual Global CEO Survey1 by outcomes for society, and particularly how including a range of interviews with senior technology is having an impact in a digital age. decision makers in governmental organisations and public bodies across the world. Our aim in doing this is to understand better the views of business and government as well as informing the public policy and delivery responses needed. Our hope is that this will help to develop stronger relationships between the public and private sectors – and, in turn, create the society of the future for the citizens of tomorrow – today – by a trusted, sustainable and collaborative government. Government & the Global CEO: Delivering outcomes, creating value 5 This report looks at CEO confidence, concerns • collaborate with business, delivering and opportunities for growth. It then sets out societal outcomes; and businesses’ priorities for government, and • reduce business burdens, adopting discusses how public bodies can: smarter approaches to regulation and tax. • become more affordable, through a focus We would like to thank not only the 1,322 on sustainable cost reduction; company leaders across the world who shared • rise to the digital challenge, improving their views with us for PwC’s 18th Annual productivity and outcomes; Global CEO Survey, but also the 50 government representatives and state backed CEOs who • invest in growth, particularly skills took the time to share their thoughts in depth and infrastructure; with us.3 We are grateful to them for their cooperation and insights. Jan Sturesson Scott McIntyre Richard Abadie Nick C Jones Global Leader Global Government Global Leader, Director, PwC’s Government and & Public Services Capital Projects Public Sector Public Services Co-Leader and Infrastructure Research Centre 1 PwC’s 18th Annual Global CEO Survey, ‘A marketplace without boundaries? Responding to disruption’, 2015. www.pwc.com/gx/en/ceo-survey/2015/assets/pwc-18th-annual-global-ceo-survey-jan-2015.pdf 2 PwC’s 17th Annual Global CEO Survey, ‘Fit for the future: Capitalising on global trends’, 2014. www.pwc.com/gx/en/ ceo-survey/2014/assets/pwc-17th-annual-global-ceo-survey-jan-2014.pdf 3 See Annex for details Summary Dealing with fiscal deficits and making government affordable Fiscal deficits remain in the spotlight, with 72% Summary of CEOs surveyed ‘somewhat’ or ‘extremely’ concerned about this threat. The challenge remains for public sector organisations to ‘do better for less’ while focusing on the outcomes that society needs and wants. This requires governments committing to a renewed focus on achieving fiscal balance, with a spotlight on understanding, and sustainably reducing, costs while building the agility of The CEOs who responded to the 18th Annual public sector organisations to cope with Global CEO Survey have become less optimistic changes in the future. about global economic growth prospects. 72% Nearly half of the CEOs surveyed believe that Rising to the digital challenge global growth will plateau over the next 12 of CEOs are concerned With affordable government the new reality, about the threat of months, with a smaller proportion (just over digital technology has the potential to be a key fiscal deficits a third) suggesting it will improve. enabler, offering the scope to deliver higher productivity and better outcomes while also Over-regulation, fiscal deficits, an increasing reducing costs. tax burden and geopolitical uncertainty are the clouds on the horizon for business, with over Public bodies need to embrace digital seven in ten of the CEOs surveyed ‘somewhat’ technology as a tool to drive innovation, or ‘extremely’ concerned about each (with transform how they engage with citizens, foster similar responses from state backed CEOs,4 the interaction of citizens with each other and the biggest difference being for the tax burden, explore how outcomes can be better secured. at 59%). All of these threats to business have government at their heart. Digital technology is opening up new opportunities to involve citizens in the design Perhaps reflecting these threats to their and delivery of services and co-produce businesses, CEOs place an internationally outcomes. Public sector organisations need to competitive and efficient tax system (67% develop a clear vision, strategy and plan to get of those surveyed, although this falls to 56% the most value out of their digital investments of state backed CEOs), a skilled and adaptable as well as the digital capacity and capability to workforce (60%) and adequate physical respond to these opportunities, including the infrastructure (49%) top of their wish lists for use of data analytics to generate insight government attention. Meanwhile there has from ‘Big Data’. been a dramatic shift in the priority accorded to access to affordable capital: the proportion of CEOs surveyed seeing this as a priority has almost halved to 29% compared to last year, probably reflecting global economic recovery. In response to these findings, we believe that governments and public sector organisations need to respond in five key ways. 4 State backed CEOs comprise 13% of the total responses. A forthcoming PwC report will dive deeper into the role of State Owned Enterprises (SOEs). Government & the Global CEO: Delivering outcomes, creating value 7 Investing in growth Tackling the burdens of regulation Public sector organisations at all levels have and tax an important role to play in creating a platform Over-regulation remains at the top of the for growth which is financially, socially and perceived threats to business, with over environmentally sustainable – good growth three quarters (78%) of the CEOs surveyed – with a focus on the key levers of skills and 60% ‘somewhat’ or ‘extremely’ concerned, with an physical infrastructure. of CEOs say that increasing tax burden not far behind (70%). having a skilled The challenge for government is to reduce the For a majority (60%) of the CEOs surveyed and adaptable burdens on business while safeguarding the this year having a skilled and adaptable workforce should be a rights of citizens as employees and customers.
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