Business leaders in Merseyside welcomed the range of measures contained in Chancellor George Osbornes Autumn Statement speech.

Announcements included improved capital allowances for manufacturers in six of the new Enterprise Zones, including those on Merseyside. There were measures to improve bank lending levels to small businesses and to cut red tape.

Jack Stopforth, chief executive of Liverpool Chamber of Commerce, said: "Companies will welcome the Chancellor's renewed commitments to reform employment law and simplify the planning system.

"Businesses will support the aim of credit easing, but will be watching carefully to ensure that viable small- and medium-sized companies can access the finance they need to grow.The publication of the National Infrastructure Plan and announcement of 35 specific infrastructure projects are welcome.

"For too long, the UK has dithered on infrastructure while other countries forged ahead, putting in place new rail, air, digital and energy networks. The Government must move quickly on the infrastructure projects announced in the Autumn Statement.

"The Chancellor's one-year extension of business rate relief will come as welcome news for the smallest businesses, while the decision to give businesses the opportunity to defer 60% of the increase in their 2012-13 rates bill is also welcome news.

"The Government has to make it easier for businesses to hire young people. The proposal to pay employers half of the minimum wage payment for the first six months will help businesses offset this cost."

Commenting on the wider economic picture outlined by the Chancellor during the Autumn Statement, Peter Stoney, a director of the Liverpool Research Group in Macroeconomics, said: "The Coalition government has got a grip on the need to reduce the budget deficit. The Chancellor has a firm handle on dealing with debt.

"His whole strategy depends on two influences. There has to be some uncertainty about the accuracy of the growth forecast. Also, the pay freeze in the public sector wont go down well.

"The omens are not very good, given the Day of Action.The detail of the budget was very good in terms of focusing on infrastructure and education. We are going to get projects in Merseyside and elsewhere.

"That is very good. Its like the way the Victorians dealt with economic problems by investing in railways.The tax issues were dealt with effectively, though regrettably the 50% top rate of income tax is still with us. Its only still here for political reasons."

Referring to the Chancellor's proposed review of public sector pay rates in Britain's regions, Mr Stoney added: "It's got a long way to go before it will be implemented. I can foresee great difficulties in getting that one airborne. Todays comment was simply to sow the seed."

He also added: "Mr Osborne's fresh measures on the right to buy social housing were interesting and overturns the Labour government putting that on the back burner."

David Miller, a partner in Liverpool-based investment management firm Cheviot  Asset Management said: "The Autumn Statement confirmed to the market that the markets' expectations for growth are closer to the truth than the previous official forecasts.

"The prices of UK equities today are driven by events in Europe and the US, rather than today's announcements, because they will drive growth next year."

Referring to the proposed raising of the state retirement age to 67, Mr Miller added: "That was seen a reasonable thing by the City. The critical thing for markets is stability and a plan from government that shows its in control.

"The reason UK assets have appreciated against European assets is that the UK is seen to be stable. That's not to say it will be the one that delivers the most growth.

"The fact that debt reduction will take longer is a change to the existing plan, rather than a new plan. These changes add to the level of certainty in an otherwise uncertain world and the UK is seen as a safe haven.That safe haven could have been threatened, had we heard an unexpected announcement, but that has not happened."

Frank McKenna, chairman of  Downtown in Business, commented: "The biggest issue facing business at the moment is access to finance, so the loan credit scheme is welcome.

"Equally, additional spending on infrastructure projects in the North West is good news, as is the continued freeze on business rates.I would have liked to have seen more done for exporters and the retail sector, and there needs to be more urgency in terms of reducing red tape and bureaucracy.

"Overall, a steady as she goes announcement that was largely expected."

Jonathan Hurst, head of accountancy firm KPMG for the North West, commented: "The Chancellor's emphasis on transport and infrastructure projects reflects the increasing recognition by many politicians on the role of infrastructure in economic growth and this is to be welcomed.

"While the majority of these new announced schemes have, in fact, been long trailed, we should remember that infrastructure investment typically follows a long lifecycle of several stages of development.

"The fact is one cannot simply start building these things overnight.  It is not unusual for schemes in development to be delayed or cancelled altogether due to affordability constraints.

"Therefore, the savings being made elsewhere in the economy in order to fund these schemes places a greater responsibility than ever on the designers and deliverers of infrastructure schemes to make best use of the funding allocated to them, to maximise efficiency of investment and to minimise cost."