Business leaders have warned Rachel Reeves that job losses and higher prices in shops are “inevitable” as they accused her of failing to deliver on her pledge to grow the economy.
The government is facing a growing backlash from businesses, with chief executives of some of Britain’s biggest companies accusing ministers of a lack of engagement.
A survey of businesses conducted since the budget found that two thirds of companies held a negative view and said that it would make Britain a less attractive place to invest.
The chancellor used her budget to announce a £25 billion increase in national insurance as she sought to balance the books. She said that businesses had to pay more to help balance the books and fund public spending.