George Osborne delivered the emergency budget with confidence and clarity. He tackled the deficit head on and was clear and open about his plans.

Business on the whole will be pleased that Britain now has a decisive plan to reduce the deficit, stabilise the economy and encourage small and medium sized businesses. Industry will broadly welcome the measures that were taken to reduce tax rates. The move on CGT was expected as was the increase in VAT.

This in turn should lead to a continuation of low interest rates. Low interest rates will give business the confidence to invest in their future and recruit more staff as the economy grows. We need a private sector driven recovery. The private sector is the only part of the economy that generates the wealth – and the tax stream – to pay for what we want delivered in the public sector. (more…)