UK business confidence falls to record low amid rising employment costs

The Institute of Directors’s chief economist urged the chancellor to deliver a budget that is growth-focused and ‘has business at its heart’. Photograph: Rui Vieira/PA

Business confidence fell to its lowest level on record in September, driven by concerns over soaring costs, according to a survey of bosses.

Topping the unease were labour costs, with energy prices also weighing on the outlook.