Commenting following the statement made by the Chancellor of the Exchequer, Rt Hon George Osborne MP, Dr Adam Marshall, Acting Director General of the British Chambers of Commerce, said:

“Businesses across Britain want a steady stream of communication from the government and the Bank of England, with stability, clarity and action the watch-words for firms.

“So far, the priority for the Chancellor and the Governor has rightly been the question of stability, as markets and firms digest the electorate’s decision.

“However, attention swiftly needs to turn to delivering clarity. While it is prudent for the UK government to delay firing the starting gun on negotiations with the European Union, firms want a clear timetable, and simultaneous action to support the wider economy.

“The big decisions – on airports, energy generation, HS2, housebuilding and more – need to be followed through. The decision to delay a post-referendum budget must not be a convenient excuse for ministers to duck these important choices. Action and momentum over the coming months are vital to stoking the embers of business confidence.”