"George Osborne promised a Budget to deliver growth and, as heacknowledged, the best way to achieve such growth is to support thesectors in which we excel - of which financial services isundoubtedly one - in order to attract global firms and inwardinvestment.

"In addition to the welcome measures designed to create jobs andto support growing businesses, this budget also largely safeguardsour international competitiveness by adding further predictabilityand transparency to the UK"s tax regime."The City of London"s Policy Chairman Stuart Fraseradded"The changes in City taxes will not harm the City'scompetitiveness, but their detailed implementation will need to bewatched carefully.

"The Chancellor's specific measures to reduce red tape,encourage enterprise and secure growth are welcome"On personal taxes50p Tax"There is no doubt that the introduction of this damaged theperception of the UK as a welcoming business environment.

"The City welcomes George Osborne"s recognition that it is atemporary measure and looks forward to further clarity as to whenit will be abolished."On business taxesBank Levy"The financial services industry acknowledges that it mustcontribute towards our recovery but the best way to achieve this isnot through taxation but through the facilitation of growth.

Bonus Tax"The City welcomes the fact that the Government resisted urgesto revisit the Bonus Tax which went against all the most basictenets of good taxation and proved so damaging to our reputationamongst the international business community."On non-doms"The City of London welcomes the Chancellor"s commitment toresisting any further changes to this tax regime during thisParliament.

"Some of the measures announced will undoubtedly increase taxreceipts. Other measures supplement the Government"s recent movesto attract foreign entrepreneurs and investors to the UK."On planning"The City of London welcomes any simplification of planningrules"However, any changes must take into account the City ofLondon"s uniquely concentrated cluster of businesses and officesand the huge economic benefits this business district provides forthe UK."On enterprise zones"London, despite its wealth creating powers and apparentaffluence, contains many areas of deprivation that require supportand it is only right that one of the Enterprise Zones is based inthe capital.

"Many of the City"s closest neighbours are amongst the mostdeprived in the country and we have long worked in partnership withthese Boroughs to help maximise opportunities for theirresidents."