Ms Newton-Smith will say: “When the businesses I speak with want to create more opportunities, more investment, more training in their local communities… instead, large numbers – particularly in retail and the hotel industry – have been confined to a crisis.

“Even when the risk is not critical, companies that have endured very difficult years are now able to control the damage again.

“Too many companies are having to compromise on their growth plans. We cannot leave this as is and not act.

“What really defines growth are the decisions made in boardrooms across the country.

“It’s the CFOs and the CEOs who are asking themselves: Can we afford to invest? Can we afford to grow? Can we afford to take a chance on new people? Well after the budget, the answer we hear from so many businesses is still – not yet.

It will also highlight the levy of inheritance tax on farmerswarning that many now fear they will not be able to pass on their livelihoods to future generations.

Ms Newton Smith’s speech reflects growing anger over the Budget, with business lobby groups warning ministers in a private call last week that a £25bn rise in employer contributions would national insurance delay plans to tackle unemployment in Britain crisis.

Businesses that rely on low-paid, part-time staff are particularly affected, as the National Insurance contribution threshold on workers’ earnings will fall from £9,100 to £5,000. It coincides with a rise in the minimum wage from next April and Angela Rayner’s radical overhaul of workers’ rights, which is expected to cost businesses £5 billion a year.