Labour is facing a drop off in confidence among business leaders amid plans for tax rises and improvements to workers' rights, according to a survey. The Institute of Directors had noted a leap in optimism in July among its membership as the new government came to power. But its latest economic confidence index showed a slump from a three-year high, falling into negative territory in August.
Ms Reeves secured a strong relationship with business in the run up to the election as firms ran out of patience with the Conservatives, long complaining of a lack of communication and strategy. IoD chief economist Anna Leach said of its findings: 'It's disappointing to see last month's welcome uptick in business leader confidence snuffed out over the summer.