Budget 2013: The business reaction20 Mar 2013Business leaders have given their reactions to Chancellor George Osborne’s 2013 Budget statement, with some welcoming the Chancellor’s announcements but warning that more should have been done to boost the economy.While the British Chambers of Commerce (BCC) said that there was ‘much to welcome’ in the statement, including the additional cut in corporation tax and the reduction in national insurance costs for small businesses, it warned that the UK faces an ‘unprecedented moment in economic history’.John Longworth, BCC Director-General, said, ‘If Britain is in a global race, as the Chancellor said in his speech, our political elite needs to act accordingly, and pull out all the stops to support enterprise, jobs, wealth creation and exports’.Meanwhile, the Federation of Small Businesses (FSB) welcomed the Chancellor’s package of measures, describing the Chancellor’s statement as ‘A budget to restore confidence and growth for small businesses’.John Walker, FSB National Chairman, said, ‘The FSB asked for a Budget for small businesses and this is what has been delivered. The Budget opens the door for small firms to grow and create jobs’.However, retail organisations expressed disappointment that the Government did not take action on business rates.