Dutch business leaders are increasingly pessimistic about the economy, according to the latest poll by TNS Nipo for the Financieele Dagblad.

The index has fallen from -45 in February to -65 in March, its lowest level since records began last August.

Some 82% of company bosses said they are negative about the economy and a large majority blame the government, the FD reported on Monday. In particular, they fear that more spending cuts and tax increases will exacerbate a ‘downward spiral’.

International problems and the political uncertainty in Italy are added issues.

Almost 75% of the entrepreneurs said their companies are developing new products to ensure their future survival and 60% think the government should give more grants to fund innovation.