Confidence remains a challenge following the Autumn Budget

After the Chancellor’s Budget announcement on 28 October, we asked businesses and individuals from across the Thames Valley attending our post-Budget seminar for their views on the announcements and whether the measures offered the reassurance they were looking for.

Polling data from the seminar suggests that significant work is still needed to rebuild confidence in the UK economy following the Chancellor’s latest Budget.

The results highlighted a clear lack of confidence with 68% of respondents saying that the Budget did  not give them confidence in the economy, and 32% saying they had moderately confidence in it.

While confidence remains subdued, this represents a slight improvement on last year’s results, when 73% said they were not confident about the UK economy and 27% were moderately confident.

The Treasury had described the Budget as one providing breathing space today and fresh hope for the future. When asked whether the Budget had delivered the “breathing space” that was heralded for businesses71% said no, just 2% said yes, while 27% felt it was too early to tell.

The findings suggest that despite the measures announced by the Chancellor, more needs to be done to restore confidence and provide businesses with the certainty they need to invest, grow and plan for the future.

Katy Rabindran, Partner at James Cowper Kreston, commented:

“The results highlight a clear need to rebuild confidence among businesses and individuals across the Thames Valley. Greater certainty will be important in helping businesses make decisions, invest and plan for the future.

The coming months will be important in demonstrating whether the measures announced can deliver that confidence and provide businesses with the breathing space they need.”

Missed our post-Budget seminar? Watch the recording here to hear our specialists break down the key announcements and what they could mean for you and your business.

If you need help understanding what these changes could mean for you or your business, get in touch with one of our specialists.