George Osborne promised a Budget that would not include vote-grabbing treats, but he only partially delivered on that guarantee with several measures designed to win over small businesses.

The chancellor delivered a 59-minute address to MPs at 12.30 this afternoon, outlining projections for growth, taxes and spending.

Top line changes included a promised wholesale review to “crippling” business rates aimed at making the tax landscape fairer for small retailers on the high street.

The chancellor also abolished 'type two' national insurance contributions, which will save self-employed people £2.75 per week or £143 a year.

And in a widely trailed measure he also promised to do away with self-assessment tax returns entirely, replacing them with a simple digitised equivalent in the next parliament.

It means people will no longer have to give duplicate information about their income, nor keep receipts, the latter being a traditional small business quibble.

"Businesses will feel like they are paying a simple, single business tax – and again, for most, the information needed will be automatically received," he said.

“We believe people should be working for themselves not the taxman. Tax really doesn’t have to be taxing and this spells the death of the annual tax return.”

Responding to the Budget address, small business leaders were initially positive, particularly about plans for further reductions to the UK’s deficit.

In a statement, the Institute of Directors said: “This was a solid and responsible budget. Few Chancellors would be able to resist the temptation to binge on a £22bn windfall from the sale of bank shares this close to an election.

"By using it to pay down our national debt George Osborne has shown commendable discipline.

“Whilst some may have expected more rabbits from the hat, today’s employment figures and the revised OBR growth forecasts prove there’s definitely something of the Duracell bunny to Britain’s economic recovery.

“This is a testament to this government’s support for enterprise but, more importantly, it is evidence of the tenacity and resilience of UK businesses.”