UK business confidence deteriorated in September, with 65pc of bosses pessimistic about the economy and more than 70pc planning to freeze or reduce investment over the coming year, according to the Institute of Directors (IoD). Companies cited tax levels, policy uncertainty and weak demand, while renewed conflict in Iran has lifted energy costs ahead of the Oct 28 Budget. John Healey faces borrowing costs above 5.4pc, their highest level since 2007, while Deutsche Bank estimates only around £8.5bn of fiscal headroom (room under budget rules) remains. Andy Burnham says he would fund a proposed national care service by scrapping the triple lock (state-pension increase guarantee), rather than raising taxes. Separate warnings from the Recruitment and Employment Confederation and EY pointed to hiring obstacles and slowing lending growth. The Treasury said the Chancellor wants government decisions to support confidence, investment and profits in British business.