The extent of the challenges facing the UK economy were set in perspective with the news that take home pay for the average British household fell last year for the first time since 1981.
By and large, business groups extended a welcome to the Budget, but some expressed doubts about whether the Chancellor had done enough to stimulate a private sector led recovery.
Businesses are being reminded that new regulations governing the filing of VAT returns and the payment of VAT liabilities are to come into effect next year.
