UK firms say they have dramatically scaled back investment plans

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IoD survey reveals reduced intentions for rest of year due to uncertainty caused by Covid-19

Businesses have dramatically scaled back investment plans for the rest of the year in response to the uncertainty surrounding the future of the UK economy, according to a leading business survey.

The Institute of Directors (IoD) said its confidence tracker revealed the Covid-19 crisis had driven down investment intentions among its members for the next 12 months by 11 percentage points to a record low of -43%.

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