2025 Autumn Budget - the business reaction

26 Nov 2025

Business groups have reacted to Chancellor Rachel Reeves' Autumn Budget speech.

The Confederation of British Industry (CBI) stated that the UK's 'growth mission' has stalled, and that the government's 'scattergun approach' to tax could leave the economy 'stuck in neutral'.

Rain Newton-Smith, Chief Executive of the CBI, commented: 'The government should be commended for protecting capital spending, boosting innovation, sticking with the corporate tax roadmap and hiring the planning officers business asked for. But business will still rue a missed opportunity to be bold and press on with much needed tax reform, simplification and alignment of incentives to catalyse business investment and job creation.'

Meanwhile, the British Chambers of Commerce (BCC) praised the Chancellor for not piling major new tax rises on businesses.

Shevaun Haviland, Director General of the BCC, stated: 'Business will welcome support for youth employment, Stamp Duty relief, protection for capital spending, a reduction in business rates multipliers and some investment tax breaks.

'They will be worried about salary sacrifice changes, mandatory wage increases and retention of the energy profits levy, which will maintain cost pressures.'

The Federation of Small Businesses (FSB) branded the Autumn Budget as having highlighted the 'perils of a continuing economic doom loop'.

Tina McKenzie, Policy Chair at the FSB, said: 'We need the government to follow this Budget through with serious, pro-growth measures that restore the confidence small businesses need to grow, invest and hire.

'While the Chancellor has taken important steps today on SME training and the new jobs guarantee scheme, ministers must now bring forward pro-business, pro-growth policies. Otherwise, we'll be back at square one, stuck in the same rut we were in last year.'