The Cambridgeshire Chambers of Commerce says the Chancellor’s autumn budget is "tough for employers" and "a missed opportunity" in relation to local rail upgrades.

Charlotte Horobin, CEO, said: "There are welcome investments in health, education and infrastructure announced in the budget, although we await detail on many of them.

"The new funding for the Cambridge Growth Company, which will help to drive growth across the city and county, is very welcome.

"But the costs of these investments will largely be borne by business so this is a tough budget for employers.

"We expect many Cambridgeshire SMEs will struggle with the extra burden of taxation."

She added: "Delivery of East-West Rail will help to connect us to the rest of the country, but this really needed to be linked to confirmation of funding to upgrade the rail junctions at Ely and Haughley which are critical for the movement of freight to and from Felixstowe, so the failure to do so is a major missed opportunity.” 

Chambers East - a partnership between the four Chambers of Commerce serving businesses in Cambridgeshire, Norfolk, Suffolk and Essex - also issued their own statement following the budget.

A spokesperson said: "The increase in employer National Insurance contributions, a 6.7% increase in the National Living Wage and the impact of the Employment Rights Bill previously announced will in combination add significant costs to business and risk undermining the growth we all wish to encourage.

"It’s imperative that in implementing these measures there are proper protections – and we welcome those which have been set out, such as sector-specific business rates relief - for those smaller businesses which are most vulnerable.

"The positive decisions on full expensing, the annual investment allowance and R&D relief will also be helpful."

The spokesperson added: "This is a high-risk budget which we hope will pay off in time, even if there is short-term pain. 

"If we get good, supportive trade and industrial strategies alongside effective devolution and public investment in infrastructure then business confidence may be boosted in time."