March 2025 – ‘Uncertainty is the new certainty for the UK…’ Chris Mason, Political Editor of the BBC, recently headlined an article with this phrase, albeit tying it to Trump and his somewhat free-firing administration.
The sentiments are however shared by the CEOs in our latest Confidence Tracker. While the vast majority are ‘moderately confident’ for the performance of their business at the moment, the most common reason for limiting themselves to moderate confidence is the political uncertainty surrounding business.
This uncertainty comes in two forms: at home or abroad. One CEO sees the ‘impending tax rises’ in the UK as nothing other than a ‘genuine worry’. Another found uncertainty at home ‘will dampen confidence. If we didn’t have the overseas opportunities … my confidence score would have been much lower.’
Some CEOs are clearly cherishing their international business, while others are greatly concerned with the ‘global uncertainty’. With their constant readiness for further disruption and difficulty due to external factors, one CEO views their company’s rigorous preparation as ‘almost war gaming’.
It is evident that CEOs are far from relaxed. Another CEO adeptly notes that ‘the overall mood matters’ and while at first blush that mood seems positive, it only takes a small dig down to see uncertainty and concern is rife. CEOs are trusting in their companies but not in the world around them.