Business leaders and politicians in Lincolnshire have welcomed the latest Budget from Chancellor George Osborne which included an economic growth forecast for this year of 2.7 per cent.
Other highlights of the Chancellor’s speech on Wednesday were a £3 billion pledge to UK businesses in order to promote exports, enhanced capital allowances in enterprise zones to be extended for three years and extra funding of £85,000 over the next two years for apprenticeship schemes.
Herman Kok of Greater Lincolnshire Local Enterprise Partnership said: “The Budget talked about building a resilient economy which is something we support and are working towards across greater Lincolnshire.
“It revealed no real surprises and was a budget focused very much on encouraging business growth, in turn helping to boost both the national and local economies.
“We hope that our business community will feel a direct benefit from some of the positive measures announced by the Chancellor and will work with us if they are in need of support.”
Coun Colin Davie, Lincolnshire County Council cabinet member for economic development, said: “There is a lot of good news for Lincolnshire businesses in the budget.
“Over the last few years, we have been helping local firms find opportunities to export their products to global markets and the finance announced by the Chancellor should help boost our numbers.
“In addition, I am delighted to see further funding for apprenticeship schemes and, in particular, the support for small businesses.”