Immediate reaction to Chancellor Rachel Reeves’s first budget has not been positive.

Our regular columnist, CEO of the British Independent Retailers Association (BIRA), Andrew Goodacre, condemned the budget out of hand, calling it, “Without doubt the worst for independent retailers I have seen in my time representing the sector. The government’s actions today show complete disregard for the thousands of hard-working shop owners who form the backbone of our high streets.”

He said, “This Budget betrays every independent retailer who has fought to keep their business alive through recent challenges. It’s not just disappointing – it’s potentially catastrophic for Britain’s high streets.”

There were crumbs, or rather drops, of comfort. Reeves made much of the fact that there is a penny off a pint of beer (thereby saving nearly a shilling when getting drunk), although Simon Shelbourn, Chief Financial Officer for employee-owned Kingsland Drinks, pointed out that while publicans might be feeling optimistic, retailers are drinking the dregs of good fortune:

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