Financial confidence reached a new low in recent months, hit by rising taxes and concerns about sovereign debt.

Standard Life's quarterly survey says financial confidence fell by almost two points to 50.9 per cent. Those in Dublin were hit the hardest, with confidence falling by 4 per cent to 51.7 per cent.

The most financially secure region was Leinster, excluding Dublin, at 52.4 per cent, whereas Munster was lowest, at just 49 per cent.