Business confidence in UK hits highest level in 10 years

FIRMS are at their most confident in 10 years as the service sector sounds its biggest jump in optimism month-on-month.

- By, Mauricio Alenoar

The feelgood rise has been driven by improved trade prospects and a better economic outlook, according to a survey by Lloyds Bank.

And researchers suggest that despite “cost pressures”, hiring intentions are also at a decade-high level.

Chancellor Rachel Reeves’s £20bn tax raid on employers has been highlighted as a factor driving unemployment.

However, Lloyds senior economist Hann Ju-Ho said the upward trend signalled “cautious optimism” across the economy as businesses were “positioning for growth”.