A rise in personal tax allowance a year early, a 20% reduction in corporation tax, and employers' national insurance payments to be cut by £2,000 - these were just some of the key announcements made in today's Budget.
And while certain moves, including the decision to scrap the planned 3p rise in beer duty, were praised, others were vilified by members of the business community.

Director general of the British Retail Consortium Helen Dickinson criticised the government for failing to help retail businesses deliver jobs and growth.

"This was the Chancellor's opportunity to maximise retailers' contribution to re-establishing growth by keeping more money in customers' pockets and leaving retailers with more money they can invest.

"He's done well for hard-pressed households but could have done more to help retail businesses to help him deliver jobs and growth."

It wasn't all condemnation from the BRC, however, as praise was given for the moves on income tax threshold and fuel duty due to their predicted beneficial effect on consumers' confidence and ability to spend. This, said Ms Dickinson, should help retailers and the wider economy. "But, pressing on with a third-successive substantial business rates rise is very disappointing. Freezing rates would have made a real difference to our troubled high streets and the communities that rely on them."

The Royal Institute of Chartered Surveyors, meanwhile, said the Help to Buy range of measures introduced should give a much-needed kick start to the housing market. RICS chief economist Simon Rubinsohn said: "Helping those who can't afford large deposits by using the government's balance sheet to guarantee mortgages and using capital savings to offer shared equity loans on new build for all buyers will help prevent prolonged market stagnation - although it presents a significant risk to government.

"The devil will be in the detail about how the government will treat buy-to-let and those in negative equity. RICS will monitor the impact on the market and prices. However, government need to be careful this doesn't create another housing bubble - pushing prices up at the expense of buyers."

The British Property Federation, meanwhile, welcomed the 'retail to resi pledge' - the government's commitment to consult on allowing the change of use from retail and agriculture uses to residential. The BPF's chief executive Liz Peace said: "Retail to residential conversions could be an important step in breathing life into our high streets, and we would very much encourage a flexible approach, particularly in areas with increasingly obsolescent retail stock that is unlikely to be brought back into retail use.

"We welcome the proposal to consult further on change of use from agricultural to residential. It's crucial that the countryside remains a place of growth, industry and business rather than an enclave of the retired and wealthy."