A new report from accountancy firm Price Bailey shows that trust in Parliament among British businesses has collapsed to its lowest level in a generation. The survey, which polled senior decision-makers at more than 1,000 companies across the UK, found that 68% now say they have little or no confidence in the institution.
This marks a dramatic shift in sentiment. Only 32% of business leaders believe Parliament is having a positive impact on the business environment, down sharply from 55% just a year ago. The figures suggest that the grinding political instability of recent years has taken a heavy toll on the relationship between Westminster and the business community.
A Decade of Declining Trust
The report, titled "Trust in Parliament: A Business Perspective," reveals that confidence has been eroding steadily since 2015. The current result represents a 23-percentage-point drop in just twelve months, and the lowest rating since Price Bailey began tracking the metric.
According to the report, businesses are particularly frustrated by what they see as short-term policy making, frequent changes to tax rules, and a perceived lack of understanding from politicians about how the real economy works.
Economic Consequences
The lack of trust is not just a rhetorical concern – it is having tangible effects on economic activity. Nearly half of the businesses surveyed (47%) said they have delayed investment decisions because of political uncertainty. A further 39% said they are holding back recruitment plans.
These findings echo broader concerns among economists that the UK is underperforming its potential due to a volatile policy environment. The report argues that rebuilding trust should be a national priority, not only for the sake of businesses but also for leadership.
Calls for Reform
Price Bailey’s report includes a series of recommendations designed to restore faith in Parliament. It suggests that lawmakers should establish regular, structured consultations with business groups before introducing major legislation. It also calls for far greater stability in tax policy, arguing that frequent changes force companies into constant re-planning.
Transparency is another key recommendation. The report urges Parliament to publish clearer, plain-English impact assessments for every new regulation that affects firms. It also argues that the needs of small and medium-sized enterprises should be given much more weight.
What Businesses Want
The survey asked businesses what would make them trust Parliament more. The most popular answer – given by 63% of respondents – was for politicians to engage more directly with business owners. Many said they would welcome a regular "business hour" in Parliament, during which enterprise-specific issues could be debated.
The report states, "Businesses are not looking for favours. They are looking for stability, predictability, and a listening ear." That sentiment is widely echoed in the data, with more than half of respondents saying they would be more likely to invest in the UK if the political climate became more predictable.
A Regional Divide
Trust in Parliament is not spread evenly across the country. The survey uncovered striking regional variations, with the Midlands and North East emerging as the most disillusioned areas. In these regions, only 27% of business leaders said they trust the institution.
By contrast, businesses in London and the South East are relatively more positive, though even there trust levels hover below 40%. The report notes that the regional gap has widened over the past three years, a trend that could exacerbate the government’s flagship "levelling up" agenda.
Looking Ahead
The report concludes that restoring trust will require immediate action from both government and parliamentarians. It warns that without a decisive change of approach, the UK risks falling further behind as global investors look for more stable environments.
Price Bailey’s findings come at a critical moment for the UK economy, as growth remains sluggish and businesses face elevated costs. For many owners, the report is a stark reminder that confidence is a fragile commodity – and one that policy decisions can easily shatter.
