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Wednesday, 24 March 2010

Chamber Reaction to Budget

Dr Brian Sloan, Head of Business & Economic Policy at Greater Manchester Chamber, said: "There were some unexpected announcements that will benefit SMEs, particularly the reduction in business rates which will undoubtedly help some of the smallest businesses. A package of measures totalling £3.5 billion.

"We also welcome the Chancellor's announcement that RBS and Lloyds will have new targets for lending to businesses totalling £94 billion.

"The Chancellor's forecasts for 2010/11 remain optimistic and his spending plans lack clarity.

"The Chancellor wants the private sector recovery to create jobs. They could have done this more effectively by abolishing the 1% National Insurance Contribution increase."

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