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Survey: bosses are pessimistic

Most business leaders believe the economy will get worse this year because of the eurozone crisis, the UK's budget deficit and rising unemployment, according to a study.

An Ipsos MORI survey of 100 company bosses - including chairmen and chief executives - found that fewer than one in 10 expected the economy to improve.

Niall Rae, of Ipsos MORI, said: "Despite the gloom, captains of industry are bullish about Britain as a base to do business."

Meanwhile, John Longworth, director general of the British Chambers of Commerce, said that a slowdown across the eurozone this year was "inevitable," but he also maintained that the UK had the potential to stage an economic recovery.