A snap poll of finance directors suggests the Budget has done little to improve business confidence, according to research by Grant Thornton.

GT found that more than three-quarters (78%) of the FDs surveyed at an event the day after the Budget felt the same confidence levels in the UK economy as they did before the Chancellor's announcements.

Only 18% reported feeling more confident, while getting on for half (44%) identified worries about the euro crisis as their main ongoing concern over the next 12 months.

The FDs were more enthusiastic about Budget proposals relating to tax reliefs aimed at innovation, which 24% said would increase their organisation's investment in innovation in the UK.

Francesca Lagerberg, GT partner and head of tax, said: 'There's been a somewhat downbeat reaction to the Budget announcements, broadly reflecting the difficult economic conditions ahead. As our survey helps to illustrate, there is still a way to go to rebuild confidence in the UK economy.'