In November, the BDO Optimism index from the consultancy firm BDO dropped by 5.81 points, reaching 93.49 and hitting its lowest level since January 2023.
The 5.81 fall marked the largest monthly drop recorded by the index since August 2021, with the decline likely reflecting businesses’ reaction to the Autumn Budget introduced by UK Chancellor Rachel Reeves on 30 October.
UK ‘losing out’ on growth due to excessive FCA regulation
Among the measures presented by the chancellor at the time were a hike in employer National Insurance contributions and a higher National Living Wage.
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UK business optimism lowest in almost two-years amid significant output decline
