Small businesses received some welcome backing from yesterday's budget, according to a Dunfermline tax specialist.

Janet McLean who runs Tax Assist Accountants in Dunfermline said: "Local business owners have grown used to bearing the brunt of Budget changes and new legislation and receiving little in return, but the Autumn Budget has at last given them some good news to encourage investment and growth.

"The Government has clearly listened to the Federation of Small Businesses and halted plans to lower the VAT threshold. Keeping that at £85,000 for the next two years will be welcome news for many small firms and self-employed business people. The personal allowance will increase to £11,850 from April and the higher rate threshold moves to £46,350.

"The £44 billion housing investment announcement will be a welcome contribution to local economies, with many local businesses, particularly in the construction industry, reaping benefits.

"Many local business owners will be also looking at available opportunities under the £2.5 billion scaled-up British Business Bank, the £500 million investment announced for new technologies including 5G mobile networks and fibre broadband and £2.3 billion investment in research and development.

"Cancelling the planned rise in fuel duty will help those businesses which deliver products and services to our homes, where cars and vans are essential not a luxury. Many business owners will also be relieved that vans are excluded from the planned increase in vehicle excise duty for diesel vehicles.

"In the future, local business owners will want to look closely at the potential benefits of electric cars as company vehicles.

"We will be looking in more detail at the many announcements made by the Chancellor which will impact many small businesses, but overall there has at last been some recognition for the over five million small businesses across the UK who contribute a massive £1.8 trillion to our economy."