Darling praised for 'understanding business' in budget

Date: 23rd April 2009

Tentative praise has been directed at Chancellor Alistair Darling following yesterday's (April 22nd) budget announcement.

The British Chambers of Commerce (BCC) has welcomed some of Mr Darling's initiatives, which included a £75 million innovation fund and taxation relief for loss-making companies, while expressing concern over others.

In his yearly address, the exchequer forecast that the UK would rise from the depths of recession and record economic growth of 1.25 per cent next year.

David Frost, director general of the BCC, commented: "The chancellor appears to have understood that it will be business driving the economy out of recession and there are some good measures that reflect this."

However, Mr Frost did question Mr Darling's wisdom in increasing income taxation for the UK's top earners by suggesting that it could drive the most talented professionals out of the country.

Following the budget announcement, the Federation of Small Businesses slammed the government for supposedly ignoring the issue of automatic taxation relief.