BUSINESS chiefs who backed Sir Keir Starmer to be PM today say they feel "duped" and have refused to restate their endorsement.
Before the election 120 bosses signed a letter declaring that “Labour has shown it has changed and wants to work with business to achieve the UK’s full economic potential".
But an investigation by found only 27 were willing to restate their praise in the wake of Rachel Reeves' Budget.
Under 90 refused to respond to the question, while two declared themselves "uncontactable".
Celebrity chef Tom Kerridge, who signed the letter, said Labour's tax raids would have a "catastrophic" impact on restaurants and pubs.
One signatory told City AM they felt "duped" and even faced pressure from party officials to put their name to the warm words.
They said: “I signed it, I was asked twice to sign it and I do feel stupid.
"We were lied to on that, they said they were pro business and they said they had changed."
It comes as Ms Reeves last night vowed to take an “iron fist” to Whitehall spending — demanding her Cabinet colleagues get real on cutting the size of the state.
The Chancellor pledged to root out waste and inefficiency, with every pound of taxpayers’ cash facing a stringent “value for money” test.
Ministers will be told to find savings of up to five per cent as part of a review of spending up to 2029, with banking chiefs brought in to scrutinise the plans.
Spending not contributing to PM Sir Keir Starmer’s priorities — such as growth or fixing the NHS — will be stopped in its tracks.
Ms Reeves said: “The previous government allowed millions of pounds of taxpayers’ money to go to waste on poor value for money projects.
“We will not tolerate it; I said I would have an iron grip on the public finances and that means taking an iron fist against waste."
