The bosses of some of Britain’s biggest companies predict a fresh wave of challenges next year, as they absorb the impact Chancellor of the Exchequer Rachel Reeves’ tax-raising budget in November.
Chief executive officers in sectors including finance, housing, gambling and hospitality told Bloomberg they’re bracing for artificial intelligence trust issues, more cyberattacks and pressure to build on Prime Minister Keir Starmer’s government. Cost cuts will also be on the agenda, according to one.
Having contended with a year of higher taxes, a stagnating domestic economy, US tariffs and fears of an AI bubble, here’s what they think 2026 has in store:
Richard Oldfield, Schroders Plc
Next year will be when people stop talking and start doing when it comes to adopting artificial intelligence to boost businesses, the asset management firm’s CEO said. “If we don’t see increasing productivity and increasing profits because of that change, then you’ve really got to question actually whether it’s enabling the transformation that everyone’s talking about.”
Oldfield called for the UK to invest in itself and support the stock exchange so it can attract more foreign capital. While more listings next year — following a disappointing 2025 — would be “phenomenal,” investors need to actively allocate in those initial public offerings.
“We can give up or we can come out fighting and we, great British companies, are going to come out fighting,” he said.
Tim Martin, JD Wetherspoon Plc
“Survival” will be a key theme next year, according to the pub chain’s chairman, as hospitality companies grapple with increased costs including from a rise in employer taxes. “Any hiccup in sales will lead to real problems,” said Martin, who is a regular critic of the government in his stock exchange statements.
Given “there is a lot of disenchantment” around the government’s approach to business, Martin predicted a push in 2026 to persuade Labour to “change tack and to understand the benefits of a pro-enterprise philosophy.”
Margherita Della Valle, Vodafone Group Plc
Next year will see AI make “real impacts to customer experience,” the telecommunications group’s CEO predicted. With chatbots becoming fully-fledged customer agents, human staff will then be left to resolve more complex or delicate issues.
“The most successful UK companies will be those that not only invest in high-quality AI technology, but at the same time focus on their ability to deliver excellent human, personalized care when it matters most,” she said.
Adrian Blair, Trustpilot Group Plc
Sticking with that theme, the rise of AI means “trust will be harder to earn” in 2026, the head of the reviews site predicted.
Still, after two decades working in the internet sector, he’s confident AI isn’t a bubble and will bring “far-reaching and generally positive consequences.”
“The elements of the AI jigsaw puzzle, they’re all going to get better at once: chips, data models, the tooling,” he said. “People underestimate how much impact it’s going to have if you put all of this together.”
Adrian Cox, Beazley Plc
The cyberattacks that crippled companies like Marks & Spencer Group Plc and Jaguar Land Rover in 2025 will “inspire cyber criminals to go even further in the coming year,” according to the boss of the insurer.
Businesses need a “mindset shift from panic to resilience,” making them better prepared to respond to what has morphed from a basic IT challenge to a “board-level imperative,” Cox said.
Stella David, Entain Plc
Less than a year into David’s role as boss of Ladbrokes’ parent company, betting companies were hit with higher taxes in Reeves’ budget.
This poses “real risks which threaten high-street jobs and investment, and create conditions where the black market will thrive at the expense of responsible operators,” she said. Operators have already warned of job cuts and store closures, while William Hill owner Evoke Plc is considering a potential sale.
Still, David is optimistic, in part because of the 2026 FIFA World Cup. Gambling companies will likely reap benefits from the football tournament in Mexico, Canada and the US, where operators have grown in recent years.
Eduardo Landin, Hochschild Mining Plc
The CEO of the gold and silver miner expects a continued rally in precious metals prices, which was spurred by supply shortages and growing demand as investors sought safe-haven assets in a geopolitically turbulent year.
For the mining sector, companies will focus on boosting margins to capitalize on this as much as possible. “It’s very good in terms of prices, but it gives us a lot of pressure in terms of reducing costs,” Landin said. “Otherwise, you’re not taking the opportunity the prices are giving you.”
Richard Houston, Deloitte UK
Cost cuts will continue to dominate businesses’ attention in the new year, according to the UK CEO of the professional services company. The emergence of steady economic growth and policy stability should revive confidence in the second half of 2026, he said.
Volatility in global trade will however persist, Houston said. He urged the UK to forge stronger links with Europe to spur growth and create jobs, as the country marks a decade from its vote to exit the EU.
Jennie Daly, Taylor Wimpey Plc
The housebuilder’s boss predicted continued momentum in planning reform, kickstarted this year by Labour. But she’d like to see see better support for first-time buyers.
“The cumulative regulatory burden and the deposit barrier remain key blockers to housing delivery and demand,” Daly said.
Top photograph: A view of skyscrapers in the Canary Wharf business, financial and shopping district from the Horizon 22 public viewing gallery in the 22 Bishopsgate skyscraper in the City of London, UK, on Thursday, Sept. 14, 2023. Photo credit: Chris Ratcliffe/Bloomberg
Was this article valuable?
Here are more articles you may enjoy.
Aon Adds to List of Brokers Suing Howden US for Alleged Poaching, Theft 
Cessna Jet Tied to Nascar Driver Greg Biffle Crashes in North Carolina 
Vantage Group to Be Acquired by Ackman-Backed Howard Hughes Holdings for $2.1B 
Three Top P/C Insurers Account for Most of Insurance AI Patents 
