Business confidence in the UK has sunk to an all-time low, a new report from consultants Deloitte shows.

The survey of finance directors indicates nine in 10 would rate the level of uncertainty facing their business as “high” or “very high”.

In the poll, which was conducted after the UK went into lockdown, less than a fifth of finance directors reported greater optimism about their company’s prospects than in the three months previously.

The impact of coronavirus has driven a strong swing in the survey, which reported record-high confidence levels in the final quarter of 2019 as the general election and some Brexit issues worked their way through parliament.

Now, confidence levels are below the readings taken in the financial crisis of 2008, the previous low after the survey was set up in 2007.

The Guardian quotes Deloitte chief economist Ian Stewart as saying: “CFOs expect the lockdown to ease in May and June and demand in their own sectors to start recovering later this year. But there is no expectation of a quick snap back in activity, with most CFOs assuming revenues will not return to pre-crisis levels for at least a year.”