A proposed referendum on EU membership and the upcoming general election are among the biggest risks facing financial chiefs of the U.K.'s top corporates, a Deloitte survey revealed on Monday.
Concerns created by politics have overtaken worries over economic uncertainty, with the U.K. general election in May 2015 and uncertainty surrounding the country's membership of the European Union (EU) topping the list of risks felt by chief financial officers (CFO) of Britain's largest companies.
An improving macroeconomic picture in the U.K. as well as green shoots of recovery in the euro zone, have contributed to higher economic confidence levels among CFOs with less than half of the 112 finance heads worried about asset bubbles or a renewed euro crisis. Only 7 percent of CFOs fear the euro breaking up, the lowest reading since 2011.
"There is simply less economic risk out there," Ian Stewart, chief economist at Deloitte, told CNBC in a phone interview.
"I think the results are a combination of the proximity to the general election and the focus on the EU and the fact that economics is much less of concern."