A CUMBRIAN accountancy firm has reacted to Chancellor Rishi Sunak's budget- saying that it allows great opportunity for businesses who have been hit hardest by Covid.

Accountancy firm Robinson+Co say that the Budget is an opportunity for businesses to plan their post pandemic comeback.

Brett Bennett, accountancy and tax partner at the firm said: “Mr Sunak started with addressing the increase in inflation as it is set to hit 3.1% and is likely to rise further. A statement that warns businesses that costs are increasing, and they should, therefore, be mindful of that when setting prices in the period ahead. However, regardless of the increase in inflation, the economy is predicted to bounce back to Pre Covid levels by the turn of the year.

“As we now know that the projected forecasts during the pandemic were somewhat overestimated, it has left the Chancellor with some room to spend.

“The budget seems to invest significantly in the assistance with business rates for the Retail,Hospitality and Leisure industries, which will no doubt be very much welcomed as they continue to rebuild after being one of the hardest hit industries from the pandemic, which will present those businesses with a great opportunity to plan and focus on their post pandemic recovery.”