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She added that BT is "delighted" with tax relief on infrastructure investment in the Spring Statement and UK planning reforms.

Interest rate cuts as well as a $12bn income tax relief provided to individuals in the federal budget "augurs well for supporting domestic consumption demand", according to the report.

They included a council tax revaluation; less pensions tax relief for the better off; a land tax; a new tax on property owners and not tenants.

She recently told a House of Commons committee she would like to see an uplift in tax relief for high end television, similar to the one already given to the film sector.

TDC said it would offer tax relief to affected residents and businesses.