Will Chancellor’s budget bring good news for the Herald and Gazette area?

George Osborne is set to deliver latest budget today
George Osborne is set to deliver latest budget today

BUSINESS leaders within the Herald and Gazette have given a mixed response to George Osborne’s budget, which offered some hope for the housing market, but prompted concerns over growth.

With news that unemployment has risen marginally by 7,000 across the country to 2.5million, the Government is under pressure to deliver renewed measures to stimulate the economy.

While Worthing, Shoreham and Littlehampton have shown signs of weathering successive recessions better than some areas of the country, concerns remain over the faltering retail sector which has seen a number of high profile stores go into administration in recent months.

Though measures for small businesses including a £2,000 allowance before paying national insurance employer contributionsm a freeze on the planned 3p fuel duty and 1p on beer tax have been welcomed, there remain question marks over the sluggish rate of recovery.

This has seen growth figures have been downgraded from an official forecast of 1 per cent, to just half that figure. There have also been concerns expressed surrounding public sector pay increases being pegged at below inflation rates of just 1 per cent.

For the full story, see the next edition of the Worthing Herald