Business bosses have hit the ‘pause button’ on investment holding off plans until the Budget, a new survey shows.
The Chancellor has been told by company bosses to create the right environment for investment on November 26 to help boost the economy.
The findings come in the latest Barclays Prosperity Index which quizzed 1,000 business leaders who also expressed continuing concerns over global tariffs.
The latest figures show the biggest challenge highlighted by business leaders was economic uncertainty which was up 7 per cent on 12 months previously.
The survey highlights business chiefs are taking a more cautious approach to investing until after the Budget, which follows weeks of speculation.
More than half, some 55 per cent, said that their plans were on hold with nearly a third calling for more stable policy stability to unlock private investment.
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Company bosses are demanding a raft of measures to help businesses of all sizes.
Thirty-six per cent want help to reduce operating costs which includes punishing energy costs.
A further third want Ms Reeves to help improve access to finance with 29 per cent demanding better access to skilled labour.
But a different picture emerged between different sized companies.
Forty-five per cent of small firms highlight uncertainty is having a “negative impact” on them – but 58 per cent claimed the opposite.
But six months on from Donald Trump’s Liberation day tariffs nearly eight in ten firms are still concerned about tariff and global uncertainty.
Matt Hammerstein, CEO of Barclays UK Corporate Bank said: “There are positive signs ahead of the Budget – businesses pledge to increase investment if fiscal policies align with their ambitions, particularly on productivity.
“This is a defining moment to provide policy stability that builds confidence among the business community.
“Our data suggests UK businesses may be adapting to the new world order on tariffs.
“Continued flexibility will build confidence in the UK as an international trading nation, despite uncertain global headwinds.”