Fewer than a third (31%) of UK-based companies plan to increase their spending on information security over the next year, according to research by PricewaterhouseCoopers. By contrast, more than half of overseas firms (52%) say they will spend more on IT security measures during the year.

The disparity between the UK and its international contemporaries is down to underlying fears over the British economy, PwC concluded. “The UK spending plans simply reflect the overall pessimism about the economy,” commented William Beer, director of the company’s OneSecurity division.

The survey of 13,000 executives also highlighted a degree of confusion over who should be responsible for information security in the organisation. “Firms are also evaluating whether the chief information security officer should report in to the CIO, the CFO or whether information security was so critical that they should report directly to the board,” Beer commented.