The British Chambers of Commerce (BCC) says yesterday’s Budget “passed the business test”, with measures to “create wealth and jobs”.

The organisation, which represents tens of thousands of UK firms, welcomed measures to improve apprenticeships for young people, boost business investment and additional help for manufacturers and exporters.

“As with any Budget, there were some populist measures that were not at the top of business’s wish list,” said John Longworth, director general of the BCC.

“Luckily, these were far outweighed by considered measures to support business growth and wealth creation.”

Meanwhile, the Trades Union Congress (TUC) said the budget would “help wealthy people and shrink the state”. It accused George Osborne, the chancellor, of delivering a popularist pre-election measures to grab votes.

“It will be paid for by further years of austerity, public services brought to near collapse, public sector pay cuts and a welfare cap that bites into the safety net that any of us might need,” said TUC general secretary Frances O’Grady.