South West businesses react to Budget: Energy aid and business rates changes

Business leaders in Devon and Cornwall reacted to Chancellor John Healey's first Budget, welcoming a £100 energy payment for millions of households and a freeze on fuel duty, but expressing concern over the increased business rates threshold and lack of support for farming. The threshold at which shops start paying business rates in England will rise from £12,000 to £18,000, benefiting about 900 extra businesses in Cornwall. However, tourism leaders said the budget 'gave with one hand and took with the other', and a farmer warned there was no change to inheritance tax for farmers facing a 20% tax on inherited assets over £2.5m since April.