LONDON: British business confidence has soared to a 16-year peak on easing Covid restrictions, a key survey showed Monday as the economy prepared to fully reopen in one week.

Accountancy firm BDO said in a statement that its business optimism indicator jumped to 112.45 points in June, the highest level since 2005.

June marked the fifth successive monthly increase, following 109.71 in May, with manufacturers in particular boosted by vaccine-driven optimism.

Separately on Monday, the UK government confirmed it will press ahead with so-called Freedom Day next Monday with the lifting of most remaining pandemic curbs in England.

“Businesses are clearly looking forward to the lifting of restrictions on July 19,” said BDO partner Kaley Crossthwaite.

“After a gruelling year of unpredictable change, the ending of restrictions is timely, although rising Covid-19 cases still leave an element of uncertainty.

“The Summer spending surge that could follow will provide a huge boost to the economy, and businesses will be hopeful that the tide is turning over the long term.”