UK business confidence dips to lowest level since general election

Research concludes Labour warnings of tough budget may have sapped optimism about the economy

UK business confidence has dropped to its lowest level since the general election, as firms grow more pessimistic about the economic outlook.

Amid fears that the Labour government's warnings of a tough budget in October have hurt the economy, the latest Lloyds Bank Business Barometer has found that business optimism weakened this month to its lowest level since June.