COMPANIES have reacted to the Budget unveiled by Chancellor George Osborne today.
Among the key points revealed in the House of Commons were that the income tax threshold is to be raised to £10,000 by next year and beer duty has been cut by 1p a pint.
The planned fuel duty rise has been scrapped while the Chancellor promised £3billion towards infrastructure, with an economic growth forecast to be 0.6 per cent this year.
The first £2,000 to also be taken off all employers' National Insurance bill.
Simon Rose of Save Our Savers, an independent action group, said the Chancellor had "thrown savers to the wolves".
"This is a disgraceful betrayal of Britain's savers. The Chancellor's announcement will lead to even lower savings rates and still higher inflation, with appalling effects for those relying on savings income."
"The Budget contained nothing to help Britain's beleaguered savers, who have borne the brunt of the financial crisis."
Children's charities were also disappointed with the Budget, as Matthew Reed, chief executive of The Children's Society, said it gave "little hops to struggling families already hit by sweeping cuts".
He added: "If the government is committed to creating an 'aspiration nation' then it must invest in this country's children.
"It is good news that health and education budgets are being protected. But we are very concerned that childcare changes will fail to help families most in need of support."
William Higham, Save the Children's director of UK policy, said: "342 children a day - the equivalent of one primary school -will be pushed into poverty and the budget did little to address this growing crisis.
"None of the measures announced today target the poorest children. We know from our work helping children in the UK, just how much families - the majority of them in low paid employment - are struggling to make ends meet, cutting back on food, heating and warm clothes."
A key point that has seemingly incurred widespread approval is the cut in beer duty by 1p, when a 3p rise had been expected.
Mike Benner, chief executive of the Campaign for Real Ale, said: "This is a momentous day for Britain's beer drinkers, who will tonight be raising a glass to the Chancellor for axing this damaging tax escalator and helping keep pub-going affordable for hard-pressed consumers.
"This decision will keep the lid on the cost of a pint down the pub."
