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Now 'Labour's tracker' cites confidence hit
Sunday Express
|February 01, 2026
BUSINESS confidence fell again at the start of the year, according to a tracker frequently cited by Keir Starmer and Rachel Reeves, dealing a blow to the government in its hopes of boosting the UK economy before difficult elections in May.
Starmer and Reeves have frequently pointed to the Lloyds Bank Business Barometer when speaking about bosses' confidence in growth plans, with recent examples showing higher confidence levels than other surveys.
But the most recent set of data provided by Lloyds Bank showed business confidence dropping across the two main indicators.
The score for confidence in people's own firms fell by three points to 44% in January, the survey showed.
Respondents were also less optimistic about the wider UK economy, with sentiment falling by nine points to a reading of 53%.
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