Chancellor's £30bn jobs plan will get Portsmouth back on its feet - but will hit taxpayer in the future

Stef Nienaltowski, head of Shaping Portsmouth, said cafés, pubs and restaurants would all benefit from the raft of support.

And he praised chancellor Rishi Sunak for a £9bn scheme to encourage businesses to keep on workers who have been furloughed by the crisis.

Mr Nienaltowski, whose group unites business, political and education leaders across Portsmouth to help improve trade and opportunities, added: ‘This is really welcomed support. It’s something that is tangible. Real people will feel this in their pockets.

‘As a small business owner, I know I will be able to earn and get cash for keeping on my staff who have been furloughed.

‘I’m absolutely going to use the meal voucher scheme and the VAT reduction is another really positive step that will bring a genuine 15 per cent saving to the punter.

‘So the chancellor’s announcements tick all the right boxes for me.’

Hampshire Chamber of Commerce, which oversees thousands of businesses across the county, also welcomed the chancellor’s move.

But Tony Knight, chairman of chamber’s professional services forum, warned the cash injection would have far-reaching implications for the British taxpayer in the years to follow.

He added: ‘Taken together, the various measures he announced represent a strong stimulus to boost business confidence and get the economy moving again.

‘It was, however, a giveaway. There were no tax increases announced that would help pay for it.

‘Such spending cannot go on forever and the chancellor will have some hard thinking to do before the Budget in the autumn.

‘At that point we can expect big decisions on tax and borrowing to help offset the deep recession we face.

‘If we don’t beat Covid, the measures announced by the chancellor today will have limited impact in getting the economy back on track.

‘He has done the right thing from a fiscal point of view but it continues to be everyone’s responsibility to stay safe and defeat the virus.’

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