The latest survey from the Bank of England reveals that companies are expected to invest more in the UK than they did last year, to meet an increase in demand since the EU referendum.

The survey of more than 700 companies across the UK reports that investment intentions continued to edge higher during the three months to the end of April. In 2016, business investment fell by 1.5% (compared with 2015).

A spokesman said: “The fall in the value of the pound is helping to boost both export volumes and values among manufacturers.

“Over the longer term, access to new markets will be the biggest factor in improving exports, while expected changes in tariff and non-tariff barriers are seen as the biggest negative factor.”