Business optimism at 'rock bottom' amid tax rise fears

BUSINESS confidence remained at “rock bottom” in October as Budget speculation rattled executives’ nerves amid concerns over increasing costs and stagnating growth, according to a leading industry body's survey.

- MAURICIO ALENCAR

Rachel Reeves has publicly stated that tax rises are being considered in this year’s Budget, while speculation has suggested major corporations could face new capital gains tax regulations, increased levies and reductions to consumers’ disposable income.

The Institute of Directors’ (IoD) most recent survey has revealed the impact tax speculation is having on bosses’ growth forecasts.