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The first is instability, both imagined and real, that has driven away customers and undermined business confidence.
He concluded by saying "The government has taken a series of decisions which I think will have undermined business confidence and the likelihood of investment".
John Cridland of the CBI, in particular, has been scathing of the machinations of a government that he thinks has undermined business confidence and slowed down investment which could create growth and jobs.
In 18 months in office, the fiscal policy narrative has directly undermined business and consumer confidence as it has proposed policy settings that will hinder growth and add layers of complexity to business operations.
Labour said a closer study of the ONS data showed the coalition's first budget last June had undermined business and consumer confidence after it jettisoned plans for growth in favour of spending cuts.
Similar(54)
These cuts will depress the economy by causing a million job losses and undermining business and consumer confidence.
However, global events and stock market jitters are threatening to undermine business confidence, with potentially far-reaching consequences.
Don't try to cover America's uninsured, they told us; if you do, you will undermine business confidence and the stock market will tank.
But his populist, protectionist policies would undermine business confidence, and thus capital expenditures, while reducing consumers' purchasing power through higher inflation.
A government source told the Telegraph: "This is being introduced slowly and with great care to ensure that it does not undermine business during the difficult economic times.
Britain's employers have refused to panic following the referendum vote, but new jobs are likely to become increasingly scarce as concerns over Brexit talks undermine business confidence.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com