Businesses 'happy with emergency Budget'

Businesses believe that the emergency Budget struck the right balance between spending cuts and tax rises, newly released figures have shown.

A survey carried out by the British Chambers of Commerce (BCC) found that 64% of those questioned thought the measures implemented were sufficient.

In a separate question, 67% of respondents admitted that their profitability will be affected by the Budget.

David Frost, director-general of the BCC, which is the national body for the Network of Accredited Chambers of Commerce, remarked that businesses appreciate that the next couple of years are going to be "acutely painful".

However, he added that reducing the "unsustainable deficit" is the right thing to do in order to restore confidence in the system.

The specialist noted that there will need to be more done in order to ensure the recovery continues.

Job creation is one area that needs to be looked at, while limited spending will have to be focused correctly in order to gain the right advantage from the system.