There is no doubt the Chancellor has remained true to his strategy of stability.

Encouragingly, his last budget before the general election had some measures to help businesses create jobs for the benefit of all.

He has clearly recognised business investment is a crucial driver of growth, by signalling his intentions with a variety of measures.

The continuation of the Annual Investment Allowance – where companies can deduct the value of an item from profits before tax – is something business believes should be made permanent, helping to fire the UK’s economic kiln by spurring smaller firms to invest in plant and machinery.

So too are measures designed to help the crucial oil and gas industry, which supports 450,000 UK jobs and is a major contributor to GDP.

Here a much-needed boost has been given with the reduction to the supplementary charge and other incentives. This will help address concerns over job losses and investment freezes, but pressures remain due to low oil prices.

Measures which support our regional entrepreneurs are also welcome. The ability for some areas to retain 100% of additional business rate revenue will better link businesses with their communities, but we need to go further on reform.

However, there are areas where we need some breathing space after some radical changes. Having given savers greater freedom over their pensions, we need to allow industry and consumers to get to grips with all the reforms.

The same is true for banks. They play an important role in financing the economy, so repeated changes to the bank levy are unhelpful because they create uncertainty.

While it’s right that banks should pay their fair share, like any business they need consistency around their tax liabilities. I’ve written before about much needed help for our first time buyers, so the new housing ISA offers them a boost where they are looking to save for a deposit and get on the housing ladder.

However, the issue of supply and demand is a big one with housing so we need to ramp up the supply of new homes to deliver the 240,000 needed each year, which will put house prices in reach for first-time buyers.

And what of issues that cut across both business and the consumer? Well a major one is the national minimum wage which has been one of the most successful policies of recent years thanks to the independence of the Low Pay Commission – its politicisation is worrying and could damage our economy.

Going forward, all parties should let the independent commission do its job, which is raising the minimum wage meaningfully without damaging the employment of low paid workers.