Nearly two thirds (63%) of business are concerned about the rises in tax and employer National Insurance announced in the Budget, the highest level recorded by the British Chambers of Commerce (BCC) in a survey, up from 48% before the 30 October announcements.

This is the highest level of tax concern since 2017, when the BCC first started asking this question. 

Before the Budget less than half of businesses (48%) said they were worried about the future. The latest data from December showed a rapid drop in confidence.