From www.icaew.com: Business confidence in the UK has significantly decreased, with the ICAEW Business Confidence Monitor reporting a drop to 0.2 for Q4 2024, the lowest since Q4 2022, primarily due to concerns following the Budget’s tax measures.

A record 41% of businesses cited the tax burden as a major challenge, reflecting worries about national insurance changes, while domestic sales growth slowed to its lowest rate since Q3 2021.

Although inflation pressures remain stable for now, investment growth is expected to slow, indicating a cautious outlook for the economy.