According to the CBI’s research, almost a third of the companies questioned had relocated some of their business abroad and 43% reported they were under pressure to do so.
In addition, even though 78 per cent of business leaders felt the UK remained an attractive place to invest, 70 per cent believed it had become worse over the past five years with the majority claiming it would deteriorate further in the future.
And a further two-thirds of respondents said they thought the Labour party did not place a high enough priority on creating a favourable business climate.
The CBI said its “deeply worrying” poll had placed the blame firmly on the Labour government for failing to deliver on promises to create a favourable business environment and improve the standards of public services.
