How the budget affects you

George Osborne unveils another £2.5 billion of cuts across Whitehall as he struggles to free up cash to kick-start growth.

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Delight at scrapping of beer duty

The all party Parliamentary Save the Pub Group has welcomed the scrapping of the beer duty escalator and a 1p reduction in beer duty. Greg Mulholland, the MP for Leeds North West and chair of the committee and said:

I am absolutely delighted that the Chancellor, George Osborne has today listened to the arguments against this unfair tax and brought it to an early end and reduced beer duty by 1p. This will be a boost to claims of being a pro pub Government. It has been evident to see that as a result of the reduced duty under the Small Breweries Relief we now have a thriving brewing industry, with over 1,000 breweries in the UK, the most the UK has seen for over 70 years. I_ am delighted that the chancellor has today made a vote of confidence in Britain’s breweries._

“It is also good news for pubs, as supermarkets were able to absorb the increase in the price of beer, pubs were simply not able to and this was further increasing the difference between a can in the supermarket and a pint in the pub, which is a controlled and sociable environment. So I am delighted that it has today being brought to an end.

– Greg Mulholland MP for Leeds North West
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FSB: Osborne has 'pulled out all the stops'

The Federation of Small Businesses (FSB) said Chancellor George Osborne has "pulled out all the stops" with a "wide-ranging package" of measures to support small businesses.

National chairman of the FSB John Walker said, "The housing initiative will help reinvigorate the construction sector in which many of our members operate".

"National Insurance cut goes beyond what we were asking for and we are pleased to see the scrapping of the 3p fuel duty due in September", he added.

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Institute of Directors 'applauds' Chancellor's Budget

We applaud this budget. The Chancellor has stuck to his guns and held his nerve - which is exactly what we wanted to see. Deficit reduction is not an optional policy, it is an absolute necessity, and he is right to reject the siren calls to abandon it.

Businesses will be glad that George Osborne has also continued the downward pressure on Corporation Tax. Britain must become the most competitive place to do business, and lower taxes will attract welcome investment from abroad.

– Institute of Directors

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Cut in corporation tax but nothing on business rates

The Chancellor delivering his Budget Credit: PA Wire/PA Wire/Press Association Images

Corporation tax will go down to 20p by 2015 - that will be very welcomed.

It is not entirely unexpected but it will be popular with business. It does not sound like there will be any action on business rates though.

Remember that businesses pay more than twice as much in other taxes than they do in corporation tax.

The problem is that Infrastructure money, childcare support and corporation tax are all measures coming in after 2015. Those clamouring for action now will not be happy.

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