Jeremy Hunt's spring Budget saw a variety of reactions from across the UK business community.

On the extension of the energy support scheme, Sarah Olney, Lib Dem spokesperson said: "In three months' time, families will once again be facing a cliff edge of unaffordable heating bills."

With Stewart Hosie MP, SNP agreeing: "By keeping bills at such exorbitantly sky-high levels, many families will be forced to pay three times what they paid a year ago."

Reacting to Hunt's business growth plans, Shevaun Haviland, Director General of the British Chambers of Commerce, said:

"If the UK's innovative growth industries are to remain competitive on the world stage, then Government must shift the dial further on investment, both within the UK and from overseas."

But Haviland praised the overall direction of the statement:

"The Chancellor has acted to address the unfilled jobs blighting our economy. It is especially good to see the help on childcare and for over 50s workers.

The plans for full capital expensing are also a step in a right direction to offset the rise in corporation tax, but the jury is out on how it will impact businesses compared to the Super Deduction scheme."

Torsten Bell, political commentator, was in a positive mood about the GDP decrease, saying:

"No technical recession forecast in 2023, which is quite a thing given how big the energy price shock is."

Only time will tell what this means for the UK economy.

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