THE chancellor could have done more to support business confidence and growth.

That's the view of Mike Ashton, CEO of Herefordshire and Worcestershire Chamber of Commerce, who said many small and medium sized companies would feel the reduction of corporation tax mainly benefited big business.

“While there is a 1 per cent cut in corporation tax, companies will still be hit with a 5.6 per cent rise in business rates from April," said Mr Ashton.

"Action to stop the great business rates robbery would have given many small-and medium-sized firms much greater confidence to invest and hire.

"Smaller firms will be disappointed George Osborne did not do more to support confidence and growth in the real economy."

Mr Ashton added that businesses are facing lower allowances for investment in new plant and machinery in most areas.

"The problem of accessing finance remains, and will become more acute, as the economy begins to grow," said Mr Ashton.