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Businesses react positively to the Budget

The business community's reaction to today's Budget was broadly positive, with the Confederation of British Industry (CBI) and the British Chambers of Commerce offering strong endorsements.

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Business wanted disciplined Budget that was geared towards jobs+wealth creation - that’s what Chancellor delivered http://t.co/HUSlhct5o6

The head of the CBI, John Cridland, said: “This was a make or break budget coming at a critical time in the recovery and the Chancellor has focused his firepower on areas that have the potential to lock in growth.”

The Federation of Small Businesses also hailed the Government's business-friendly approach.

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Welcome focus on manufacturing; increased investment allowance, cuts to energy bills - will create jobs & strengthen this sector #Budget2014

Business leaders call for long term infrastructure plan

The British Chamber of Commerce has called on the government to make driving economic growth its number one priority. BCC director general John Longworth said:

Politicians need to get some political backbone and show leadership. We are a great country, as we demonstrated during the Olympics, we have the talent and the energy but we need the political will to focus relentlessly on economic growth. We need an economic action programme so that Britain can excel and make its way in the world. It's not that nothing else matters, it's that without it, nothing else is possible.

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Government must show 'backbone' and drive growth

British Chambers of Commerce director general John Longworth Credit: Press Association

The British Chamber of Commerce (BCC) has urged the government to "show some backbone" and take action to drive economic growth as they slashed growth forecasts, again.

The BCC, which represents more than 100,000 UK firms, now believes there will be no growth this year, as output will shrink by 0.4% before a rise of 1.2% next year, compared with its 1.9% forecast in June.

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