He says his budget was part of a long term economic plan—a plan that is delivering security for the people of this country. The deficit is down by a third he says but it is still one of the highest in the world and he is taking further action to bring it down.

The resident of number 11 Downing Street says that manufacturing is growing again, and jobs are being created across the country and he outlined support for manufacturers.
The key points for business included direct lending from government to UK businesses to promote exports would be doubled to £3bn and interest rates on the associated lending cut by a third. For those who have businesses in one of the 24 enterprise zones would continue to enjoy business rate discounts and enhanced capital allowances.

The chancellor said: “We’re going to double the Investment Allowance to £500,000, extend it to the end of 2015, and start it next month. 99.8 percent of businesses will get a 100 percent investment allowance. Almost every business across Britain will pay no upfront tax when they invest in the future.”

Other industry related changes included on taxation that the personal allowance will be raised from £10,000 to £10,500, a move that will affect many part-time workers. For higher earners the 40p income tax threshold is to rise from £41,450 to £41,865 in April, and another one percent to £42,285 next year. Again of interest to payrolls is the news that under-21s will be taken out of employers' national insurance contributions.

A fuel duty rise due in September has been scrapped which will again lower running costs for pretty well everyone in the industry.