05 Feb 2025A survey carried out by the Institute of Directors (IoD) has revealed that a significant number of UK firms want a reduction in the tax burden on business. The IoD's Directors' Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, rose to -59 in January 2025 from -61 in December 2024. According to the IoD, confidence remains at 'historically depressed' levels. When polled on what measures would help to boost business confidence this year, 58% of business leaders requested a reduction in the tax burden on business. 41% opted for a scaling back of the government's reforms to employment law, and 35% chose an improved trade deal with the EU. Commenting on the findings, Anna Leach, Chief Economist at the IoD, said: 'In a recent poll of our members, 58% felt that a reduction in the tax burden on business would be the most effective way of lifting business confidence, with 41% looking for employment regulations to be scaled back and 35% looking for a better trade deal with the EU – a better articulation of the growth narrative was in sixth place supported by 23% of respondents.'