UK business confidence dropped sharply in the first quarter of the year, driven by rising tax burdens and growing concern over new US tariffs, according to new data from the Institute of Chartered Accountants in England and Wales (ICAEW).

The ICAEW Business Confidence Monitor recorded a reading of -3, the weakest level since the final quarter of 2022 and a marked decline from the previous score of 0.2. The fall reflects growing pessimism among UK firms, particularly over increased costs and the global trade outlook.

More than half of surveyed businesses cited tax as a key challenge, with 56% highlighting it as a growing pressure—an all-time high for the index. The April rise in employer National Insurance contributions added to financial strain, alongside increases in energy bills and the national minimum wage.

The introduction of new US tariffs has also heightened trade uncertainty. Although initially announced as sweeping reciprocal measures, the tariffs were scaled back to a 10% baseline for most countries, including the UK. Nonetheless, the policy shift has added to concerns around global trade costs.

Companies also reported weaker expectations for domestic sales growth this year, forecasting the slowest pace since late 2022. This is despite a modest uptick in sales during the first quarter.

The Office for National Statistics (ONS) GDP figures showed an unexpected 0.5% rise in February, following a flat January. However, the broader economic environment remains fragile.

The ICAEW noted that businesses are holding back on hiring and training investment to cope with sustained cost pressures, a move likely to impact productivity in the months ahead. The next ONS labour market update is expected on Tuesday, followed by new inflation data on Wednesday.

A new study led by the University of Nottingham and the Electric Power Research Institute (EPRI) lays out a strategic roadmap for decarbonising East Midlands Airport (EMA) and its surrounding transport ecosystem. The work is positioned within the UK’s broader target of achieving net-zero greenhouse gas emissions by 2050.

The research combines technical modelling with stakeholder analysis to explore the role of hydrogen and electrification in cutting emissions across aviation, freight, and ground transport linked to the airport. EMA is a critical logistics hub, handling over 370,000 tonnes of cargo and more than four million passengers annually. It generates around £300 million for the regional economy and supports over 6,000 jobs.

The study highlights the need for integrated planning across transport modes and energy systems, recommending coordinated action between logistics providers, local authorities, and energy suppliers. Stakeholder interviews and scenario modelling were used to map the system’s complexity and assess potential adoption paths for green technologies.

Key outputs include 17 recommendations covering infrastructure development, hydrogen production and storage, links to existing hydrogen clusters, and opportunities to attract sustainable aviation fuel (SAF) production to the region. The report also points to the potential for EMA to serve as a replicable model for airport decarbonisation globally.

Leading wind power specialist Boston Energy has underlined its commitment to empowering women to pursue careers in the wind energy industry. Through its Women into Wind campaign, East Yorkshire-based Boston Energy is supporting more women to enter the rapidly-growing sector and fostering greater gender diversity within the workforce. The initiative aims to encourage more women to consider careers in wind energy by offering hands-on training, mentorship, career development and opportunities to help women thrive and lead in this field. Boston Energy works internationally, supplying skilled technicians to global wind farm developers and operators. The company has worked on more than 100 offshore and onshore wind farms across the world since 2012, with its technicians working on more than 6,000 turbines from pre-assembly and Installation to maintenance. The most recent research from the International Renewable Energy Agency found that just 21 per cent of the global wind industry workforce is made up of women, with only eight per cent holding senior management positions. Boston Energy is committed to playing its part in changing this, by supporting women to enter the industry and benefit from the many highly-rewarding and exciting opportunities available working in wind power. As part of this commitment, female Boston Energy team members recently attended a careers event, staged by the Humber-based Women into Manufacturing and Engineering (WiME) partnership, to showcase careers available to women in the industry. The WiME event, held in Grimsby, a major hub for offshore wind, featured a session aimed at schools and colleges, to capture the imagination of girls and young women beginning their career journey, as well as an open session for women of all ages and backgrounds, who may be considering a career change. Boston Energy’s People Manager Sarah Shires said: “At Boston Energy, we believe that diversity is key to driving innovation and progress, particularly in industries like wind energy, which are essential for our sustainable future. “Through our Women into Wind campaign, we’re dedicated to providing the mentorship, training and opportunities needed to help women thrive and lead within this exciting sector. Our commitment goes beyond recruitment; we aim to create a supportive environment where women can not only enter, but excel, in the wind power industry. “Through our participation in events like the WiME careers day and the implementation of our Women into Wind initiative, Boston Energy continues to promote diversity and inclusion. Attending WiME events is crucial for us because it allows us to connect with and inspire the next generation of talent, especially women, to pursue careers in wind energy.” Boston Energy is based at the Hesslewood Office Park in Hessle and is a leading provider of technical labour, services and training to the global wind energy industry. The business works alongside leading names including Siemens Gamesa, Vensys, GE, SSE and Vestas to supply highly qualified and experienced professionals. Embracing a “one team” philosophy, Boston Energy’s technicians integrate seamlessly with customers’ teams to provide high-quality support with an unwavering commitment to safety excellence. Attending events such as WiME is just one of the ways Boston Energy connects with women of all ages to showcase the exciting opportunities in the wind industry and increase female representation in the sector. The team also works with schools and colleges to capture the interest of girls from a young age, while targeted recruitment schemes are also implemented to make women feel more included and welcome in the industry, with gender neutral language used to make job adverts more accessible. Competent Technician Rebecca Hansen joined Boston Energy just over a year ago is currently working on the Lynn and Inner Dowsing wind farm in the North Sea, with client Siemens Gamesa. She said: “I think a lot of people feel that jobs like these are ‘men’s jobs’ and may be too difficult for women to do, but I think that’s a huge misconception. “There’s no stopping women doing a job in a male-dominated industry – we can do just as well, if not better, and the satisfaction for me in doing so, is just as good as the other benefits the job brings. “I’m very glad to have stepped out of my comfort zone and taken this chance. It changed my life – so to other women thinking about it, I’d say ‘why not take that chance too?’” Boston Energy’s dedication to diversity extends beyond gender, as the company actively supports individuals transitioning from various backgrounds, including armed forces leavers and professionals from other industries, through its Transfer to Wind programme.

The proposed £1.2 billion merger between ready meal suppliers Greencore and Bakkavor has been delayed, with the deadline for a formal bid now extended to 9 May 2025. The extension was granted under the consent of the London Stock Exchange (LSE), with the possibility of further delays.

If it proceeds, the merger will create a £4 billion food company, with Greencore shareholders expected to hold 56% and Bakkavor shareholders 44% of the combined business. Both companies are major players in the ready meals and food-to-go sectors, with Greencore operating a large facility in Worksop and Bakkavor having multiple sites across the East Midlands.

There is no certainty that the deal will go through, and we will provide an update if there are any significant developments.