Survey reveals record drop in business confidence
The latest business trends survey from BDO has revealed that business confidence has dipped since the Government revealed its plans for spending cuts.
Confidence levels dropped to 97 in May from 103.3 in April, which is the biggest drop since the survey began. A spokesman for BDO said that "fears of the economic impact of spending cuts may be causing businesses to rein back on growth plans". The finer details of the cuts will be confirmed in the Chancellor's emergency Budget, which will be held on 22 June.
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