BOLTON and Bury Chamber has mixed feelings about the pre-Budget statement from Chancellor Gordon Brown.

Chief Executive Andrew Ratcliff said: "This was a sweet and sour offering from Gordon Brown, in which the government proposes to give with one hand and take away with the other.

"Our chief concern is that by proposing to borrow more money to pay for public expenditure increases, the Chancellor may put pressure on the Bank of England to increase interest rates.

"This would be very bad news for local manufacturers given the current tough economic climate."

He went on: "We welcome the review of Employer's Liability Insurance.

"The BCC has led the charge on this issue, producing a major survey and lobbying tirelessly.

"We also welcome the Government's announcement of a review of the pensions tax regime.

"We hope that it uses this opportunity to restore tax relief on equity dividend income to revive private incentives to save for retirement."

Mr Ratcliff added: "There should be a full assessment of the likely effects of a rise in landfill tax to ensure that it will actually be cost-neutral and that businesses would receive support to recycle their waste.

"Otherwise we will just see more fly-tipping.

"One of the major priorities for this government is to reduce the burden of regulation and taxation placed on business, which is not helpful to future growth."