Big business delighted with corporation tax cuts

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George Osborne delivered an annual budget speech that lasted barely an hour and contained hardly any surprises. It raised few laughs - the Wallace and Gromit reference did despite being a feeble joke (it was later removed from the official text of the speech) - but the tax breaks announced for the film and video games industries were certainly gratefully received.

Introducing his Budget as one which "unashamedly backed business," the chancellor announced a bigger-than-expected cut in corporation tax to 22p over the next three years. How has the statement been received by the business world?