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Companies in London believe that the government will fall flat on its ambition to grow the British economy, a new survey has shown.
Kansler Rachel Reeves has intended to Woo companies in London City in recent years.
But about nine out of ten companies throughout the capital doubts the government that the government can achieve growth, according to research from the London Chamber of Commerce.
About 70 percent of companies said they didn’t even think their own companies would grow compared to last year.
The majority of 150 surveyed companies also blamed the work government’s policy that suffocated production.
The three main problems mentioned were autumn’s budget measures, lower than expected growth and the bill on employment rights-a “triple shock” that could send the economy to further decline.
The survey of 150 companies in the capital is likely to be a final warning for chancellor as she prepares to deliver her spring statement on Wednesday.
Reeves are likely to make sweeping cuts to state spending in her bid to balance the books.
A reform of pensions may be one of the cards to be drawn out, with her speech in Mansion House last year, which indicates that she wanted to review the system to allow major investments.
Companies said they were in great need of some exemption from the chancellor because only five percent of companies said that raising taxes would help growth.
Three quarters said that the increase in capital gains taxes would have a negative impact on their income.
London Chamber of Commerce CEO Karim Fatehi said the investigation painted a “strong image”.
“Companies do not have confidence that the government can deliver economic growth if it continues along a road with tax increases and employment regulation.”
“They should listen to companies and urgent change course,” he added.
