The British budget was dismissed as "uninspiring" by Northern Ireland's Federation of Small Businesses.

Freezing taxes was an inadequate step, spokesman Mr John Hurson said, "as inflation will push up the cost of business in real terms".

The budget will do little to stimulate growth, he added.

The Chancellor, Mr Gordon Brown, has chosen not to confront insurance companies, whose escalating premiums have pushed many companies toward ruin, Mr Hurson continued.