The lack of consumer confidence is the main challenge facing businesses, according to a pre-Budget survey of 129 Irish chief executives by accountants Deloitte.

One in three chief executives cited weak consumer confidence as a greater challenge than reduced access to credit (26 per cent) and exchange rate issues (21 per cent). Just 5 per cent cited bad debts as a challenge.

Thirty-two per cent cited the need for a detailed Government recovery plan; 29 per cent cited greater access to credit and 16 per cent said an active National Asset Management Agency was needed.