Business confidence in UK surges to pre-Brexit levels after Labour win

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A new survey reveals 23 percent of large British companies now report high or very high uncertainty, a sharp decline from 36 percent in the previous survey.

Most of the companies surveyed between July 9 and July 19 cite cost reduction as a greater priority than expansion or investment. / Photo: Reuters Archive

The report also pointed to rising optimism around financial prospects, adding to early signs of a pickup in business sentiment since the July 4 victory for the Labour Party. Asked about the election result, 21 percent of companies surveyed by Deloitte said it would boost plans for investment, deal-making and hiring, against 11 percent who said it would detract. More than two-thirds predicted little or no change.Most of the companies surveyed between July 9 and July 19 cited cost reduction as a greater priority than expansion or investment.

 

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