LOCAL business leaders have welcomed the Budget's focus on small business and enterprise.

Richard Bindless, chief executive of Bolton and Bury Chamber, said today: "There is much good news for the small companies which are so crucial to the two towns' future prosperity.

"The cuts in corporation tax and tax credits for research and development are key ingredients in helping small businesses to grow."

And although the Chamber did not think the package was quite so positive for the area's larger companies, he hoped they would see some benefits through their supply chains and share in the general economic benefits that growing enterprise would bring.

Mr Bindless added: "We were very pleased that the Chancellor implemented the British Chambers of Commerce (BCC) recommendation to introduce an Enterprise Management Incentive Scheme, which will drive forward entrepreneurship."

John Brown, chief executive of Bolton-based EEF Lancashire, said it was a clever budget and it would be churlish not to welcome the extra help for small businesses and the corporation tax concessions.

But he was concerned that the Budget would do little to accelerate reduction in UK interest rates.

He also felt it failed to provide extra incentives to larger companies to help maintain investment in equipment, skills, and research and development during difficult times.

North-west TUC Regional Secretary Alan Manning welcomed the commitments to investment, research and development, lifelong learning, support for familes, the least well off and pensioners. "We also welcome the additional resources to the New Deal to help many more back into jobs," he said.

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