Bosses in London have one of the most pessimistic outlooks concerning Britain’s ability to claw its way out of the economic downturn caused by the coronavirus, a business trade group’s poll suggests.

The survey by the Institute of Directors follows the OECD’s projection of an 11.5% decline in the UK’s GDP. This figure could slump even further to 14% if there is a second wave of Covid-19, the OECD said.