Rishi Sunak has been warned he has five months to get his “house in order” by furious business chiefs.
Shevaun Haviland, director general of the British Chambers of Commerce (BCC), said firms face a “perfect storm” of spiralling costs.
She demanded no more business tax rises before a 2024 election.
And she called for an “urgent review” of the list of shortage jobs exempt from post-Brexit immigration rules.
She said: "Increasing costs of raw materials over last summer, supply chain and shipping issues, problems in recruiting people, and by this March, spiralling energy prices.
“It really is the perfect storm for businesses, firmly putting the brakes on recovery."
She added: "The Spring Statement was a missed opportunity. We saw some support for business, but the lack of a clear strategic direction meant it did not give clarity or confidence.
“This has to change; we are on limited time.
“The Government has until the autumn budget to reset, rethink and get their house in order.”
It comes amid mounting speculation the Chancellor could scrap a corporation tax rise from 19% to 25% next April on profits over £250,000.
Downing Street today refused to rule out scrapping the rise as pressure from businesses mounts.
A No10 spokesman said: “There are no current plans to scrap that corporation tax rise but you'll appreciate that tax is a matter for the Chancellor.”
Quizzed by her at the organisation’s London conference today, Chancellor Rishi Sunak admitted firms had “challenging times ahead”, as well as the “burdens” of Brexit.
And he admitted his 5p fuel duty cut was “difficult given where pump prices are”.
A litre of petrol now costs 25p more than when he announced the tax cut in March, due to soaring global oil prices.
Mr Sunak said his Autumn Budget, likely in October or November, will focus on investment.
Officials are looking at “finding a more permanent replacement” for the temporary ‘super-deduction’, he said, and will “continue to support” firms helped by a temporary rise in the annual investment allowance.
Under the annual investment allowance, firms were able to claim back up to £1m spent on machinery in 2021 against their tax bill. Normally the figure is £200,000.
Under the super-deduction, due to end in March 2023, firms can effectively claim a 25p tax cut for every pound they invest in certain machinery.
Admitting Brexit has hit firms he added: “Of course there has been a trade in our changing relationships. That was always going to be the case.
“And the government is looking at how we can ease some of those burdens further, particularly on the Northern Ireland side.”
Ms Haviland called for a long-term plan to solve skills shortages as well as immediate action as firms continue to struggle to recruit staff.
"We are already seeing a drag on growth due to the lack of people in our labour market.
"With four out of five firms telling us they're finding it difficult to recruit, too many businesses are struggling to find the people they need to succeed and grow.
"In the short-term, Government can do more to help firms fill their gaps, including an urgent review of the Shortage Occupation List."
She said that UK-EU relations must improve, adding: "We need to reduce the red tape and cost burdens currently placed on British businesses to ensure smoother exporting."
