“Businesses crave stability, and need to be able to confidently plan for the future. All of this chopping and changing is making it impossible for Shropshire employers to do this with any degree of certainty.

“The most worrying aspect of this latest announcement is the decision to strip back energy support from a two-year pledge, to a guarantee which expires in April.

“Energy costs are one of the factors which are keeping many Shropshire businesses awake at night.”

He added: “We appreciate that the new Chancellor faces a difficult balancing act – calming the volatility of the markets and restoring business confidence without piling financial misery onto families and businesses.

“But as the British Chambers of Commerce quite rightly points out, the Government is failing to fully understand that the cost of living and cost of doing business crises are two sides of the same coin. 

“We still need a clear vision on how it will support firms and the communities that rely on them to thrive, and time is of the essence. 

“We now await the more detailed economic statement at the end of this month with interest, and can only hope that it eases anxiety and helps to rebuild our country’s battered economic reputation.”