Confidence edges up at end of year after Budget clarity

BUSINESS chiefs are more confident going into 2026 after fears of yet more tax raids in the Budget were allayed.

- By Samuel Norman

Lloyds Banking Group’s latest Business Barometer found optimism was up 10 points compared with the beginning of the year. Half of the rebound came in the last’ month after Chancellor Rachel Reeves wielded her red box on November 26.

Firms had put investments on hold following media briefings suggesting Reeves was staring down a £30bn black hole — leading to fears she would once again turn to businesses to fill the gap.

Eighty-four per cent of bosses were worried the Budget would hit their bottom line, according to a survey by entrepreneur network Helm in October.