Shepton Mallet Chamber of Commerce has reacted cautiously following the announcements made in the government's Budget yesterday (March 11).

Chancellor Rishi Sunak delivered his first Budget yesterday, and key points included firms eligible for small business rates relief to get a £3,000 cash grant, £2.5 billion to be made available to fix potholes and resurface roads in England over five years, and fuel duty to be frozen for the 10th consecutive year.

Chairman of Shepton Mallet Chamber of Commerce, Alan Stone, said: "It is very early to pass any sort of judgement on the budget.

"The headlines look quite positive but problems often come in the detail. It would seem to have been quite sensible recovering the costs of coronavirus - but are the rebates going to be easy for the many very small businesses in Shepton to access?

"It is good news about the A303 - if they do indeed get it done - but most of this is confirmation of previous promises.

"However, it is very pleasing for local businesses to see the freeze on beer and cider duties, and the small business rate reliefs."

Stephen Henagulph, chief executive of Somerset Chamber of Commerce, said: "While as always, the devil will be in the detail, at first glance this appears to be a strong Budget for business – business rates will be temporarily axed for retail, hospitality and leisure businesses with a rateable value of under £51,000 and the scheme extended to coverall those in the hospitality industry below the £51,000 threshold, including museums, small hotels, theatres and guest houses.

"That is a huge boost to businesses which have already been struggling with the uncertainty created by Brexit and the wider slowdown of the world economy.

"The Chancellor's announcement that small and medium sized businesses will be able to claim back the cost of Statutory Sick Pay as a result of the coronavirus outbreak is also to be welcomed, as is the move to make it available to those who are self-employed.

"The freeze on alcohol duty will be good news for our regional producers and the increased investment in clean growth technology, including research and development and nuclear fusion, is vital to ensure we meet our climate change targets while supporting businesses and helping to grow the economy.

"It was particularly pleasing to hear the Chancellor specifically mention the development of growth hubs in the West of England.

"Earlier this week the Government announced plans to invest £1 billion to bring 4G mobile phone coverage to 95 per cent of the UK by 2025 – the Budget has further supported this with £5 billion to bring gigabit broadband to rural areas.

"Good connectivity is key to giving Somerset's businesses a level playing field, enabling them to work remotely and compete with their big city-based competitors.

"Business needs good infrastructure – both physical and digital – and the £27 billion investment in roads, coupled with rail improvements and the new pothole fund, is a huge step in the right direction.

"Business and the chamber will now be watching for the detail in the hope the pledges do not get lost in red tape, while also ensuring the additional investment is not swallowed up by the North and South East."