Lack of progress damaging business confidence

Stability might be the key theme in this year's budget, but tougher financial consequences might be yet to come.

That's according to Andrew Gerrard of Island accountancy firm Harding Lewis, who's been weighing up the prospects in light of Tuesday's announcement.

The 2016 budget includes many short and medium-term provisions, but some future arrangements - such as public sector pensions - remain undecided. 

Mr. Gerrard also expressed concerns about the potential of government accruing debt in the long-term.

He explained that a lack of progress was damaging business confidence: