Chancellor Rishi Sunak has announced the biggest infrastructure investment programme since the mid-1950s in the 2020 budget.

Politicians, journalists and industry experts from across the country have been lending their opinion and insight into the plans.

READ MORE: Budget 2020 as it happened: £30bn Coronavirus fund | £640m for Scotland | Beer and fuel duty frozen

Coronavirus fund

Sunak outlined plans to enforce an emergency response fund to help health services tackle the COVID-19 outbreak, just hours before NHS England confirmed a further two UK patients had died after testing positive.

He unveiled an additional “fiscal loosening” of £18 billion to support the economy this year, taking the total fiscal stimulus to £30 billion, and said statutory sick pay will be extended to all of those eligible and asked to self-isolate.

Many saw the earmarked funds as a positive for the country:

Responding to today’s Budget statement, national chairman of the Federation of Small Businesses (FSB), Mike Cherry, said:

“This is a pro-small business Budget, which has delivered a high streets bonus, a series of Conservative manifesto promises to small businesses, and emergency steps to support small firms through the coronavirus outbreak.

“Covering the cost of Statutory Sick Pay and emergency measures for the self-employed are particularly welcome. Removing the minimum income floor for those on Universal Credit will bring help to those working hard to keep their businesses going. These are vital contingencies for the UK’s 5.8 million-strong small business and self-employed community." 

However equally, others said the funds failed to address the issue at hand, and ignored other areas of the health sector:

Chief executive of the Trussell Trust, Emma Revie, commented: "We welcome the extra financial support announced - but as coronavirus unfolds, more people could need our safety net than ever before.

READ MORE: Watch as business editor Ian McConnell digests the UK budget with financial experts from JC Wealth

 

"We can prevent more people being locked into poverty as the outbreak develops by ending the five-week wait for universal credit."

Scotland fund

An extra £640m has been earmarked for Scotland in this year's budget. The Scottish Government's budget will now increase by £1.9bn to £35.8bn in 2020-21.

It prompted mixed reactions.

Commenting on the UK Budget, Dr Liz Cameron OBE, chief executive of the Scottish Chambers of Commerce said: “Chancellor Rishi Sunak’s budget brings some relief for businesses in the face of coronavirus impact as well as further Barnett consequentials for Scotland.’’

“Some of the investment announcements in the Budget are particularly welcome, such as the £5bn for broadband connectivity and the Coronavirus business interruption loan scheme, these will benefit Scottish businesses.’’

“We urgently need the Scottish Government to invest any extra funds into business support and boosting the economy, which faces huge challenges in the coming weeks and months. The Scottish Chamber Network is ready to work with Scottish Government on how these funds are best used in order to protect jobs and businesses.’’

Fuel duty

Fuel duty will be frozen for another year, £26 billion will be invested in roads, and the Government will abolish £2.4 billion annual tax relief on red diesel in two years’ time, but agriculture, rail, domestic heating and fishing will be exempt.

Some people thought the government should have focused more on the environment in this year's budget.

BBC's Simon Jack commented: "Can’t shake feeling govt missed an opportunity to raise fuel duty. First budget, massive drop in oil price, environmental creds in COP 26 year. Price at pumps would not move. Valuable tax revenue to offset huge spending commitments. Thoughts?"

CEO of CPRE, the countryside charity, Crispin Truman, said: "It's disappointing that the government has not delivered on its much-touted ‘greenest Budget ever. More cash for roads and a freeze on fuel duty undermine their claims to be tackling the Climate Emergency."

What did you think of the budget?