Business chiefs back Cameron coalition's first moves

Business leaders today united behind the coalition Government, welcoming many of the early announcements affecting the commercial world.

Measures to abandon the National Insurance rise for employers and to support small businesses were instantly applauded, although the main cause of support was the prospect of tough action on the Budget deficit.

David Frost, director-general of the British Chambers of Commerce said: "Fixing the public finances must be at the top of the agenda. The coalition must be absolutely clear about where spending cuts will fall, and the need to curb relentless growth in the size and cost of the public sector."

Richard Lambert, director general of the CBI, said: "Business wants a stable government with the authority to take the tough decisions that will be required to keep the economic recovery on track and to get a grip on the fiscal deficit.

"This coalition should have the votes and mandate to get on with the job. In the past few days, leaders of all three of the main political parties have emphasised their commitment to restoring fiscal stability in the national interest. That must be their overriding priority in the months to come."

Stephen Alambritis of the Federation of Small Businesses added: "It is good to see that businesses are being cocooned from initial tax rises."

He welcomed the replacement of the Enterprise Finance Guarantee Scheme with a more generous National Loan Guarantee Scheme for small businesses, saying it would be similar to Margaret Thatcher's loan deal that spawned the likes of Coffee Republic and Waterstone's.