Confidence among businesses was knocked by Labour's plan to hike National Insurance contributions and impose an inflation-busting minimum wage rise from April, the report said.
Left-leaning: Confidence among businesses was knocked by Chancellor's plan to hike National Insurance contributions and impose an inflation-busting minimum wage rise from April.
An index that measures confidence across the British manufacturing industries fell for the fourth consecutive month as businesses continued to reel from the Budget.
The index published last night by accountancy firm BDO tumbled to 92.20 – the lowest level since January 2023 – from 93.41 in December.
Rachel Reeves was dealt a further blow last night as figures showed business optimism hit a two-year low in January.
