CARLISLE's MP and Cumbria's Chamber of Commerce have reacted following the announcement of the Autumn Budget. 

Jeremy Hunt delivered his first budget as Chancellor today (November 17), in which he outlined the priorities of the nation are 'stability, growth, and public services' as a way of rebuilding back our economy. 

The Chancellor revealed tens of billions in tax rises and spending cuts - with the highest earners having to start paying the top rate of tax down from £150,000 to £125,140.

Carlisle MP John Stevenson said it's only fair "those with the broadest shoulders have to carry the burden". 

Mr Stevenson also said it was "rightly so" that the party had u-turned on Hunt's predecessor Kwasi Kwarteng’s ill-fated plan for £45 billion of tax cuts. 

READ MORE: Whitehaven mother and son died after making suicide pact, inquest told

"I think the priority for stability, growth and preserving public services is exactly the right one. Probably the more important one is getting growth in the economy, but before you can do that, you have to create stability. 

"It was a balanced statement given the pressures being faced," he said. 

Mr Stevenson welcomed the extra provision being allocated towards the NHS and education over the coming years.

NHS budget will increase in each of the next two years by an extra £3.3bn and schools will get an extra £2.3bn the next year and the following year. 

"I was encouraged by his commitment to nuclear, although it was a commitment to Sizewell C nuclear plant to go ahead, there is an element to nuclear in Cumbria - I think that will develop forward with the SMR," he said. 

Cumbria's Chamber of Commerce welcomed this announcement, as they are currently working with Sizewell C to bring direct benefits to Cumbrian businesses. 

The MP also welcomed the commitment to continuing the Levelling Up fund at the same level. 

Cumbria's Chamber of Commerce said whilst this is positive however, "projects are already under pressure because of spiralling inflation, impacting on the current round".

Whilst Cumbria's Chamber of Commerce said there were positives in what had been announced, but much of the detail and 'missed opportunities' are still to come. 

"While we welcome a commitment to invest in energy, infrastructure and innovation, unless there is more to come in the detail this doesn’t feel like a coordinated plan for growth, which is badly needed.

"We’re keen to see more detail on the energy consumption measures the Chancellor referred to, and more on energy investment, in particular in renewables. We need to see much more on this, and quickly.

"There were some positives in freezing the threshold for employers’ national insurance, increasing windfall taxes on energy companies and extension of transitional relief on business rates. But these measures could have gone further. And there was scope in areas such as taxation of Non Doms and addressing tax breaks for private equity managers. 

"Not addressing these, and at the same time continuing with the removal of the cap on bankers’ bonuses, seems wrong while ordinary households continue to face an extended period of significant financial challenges, and often hardship.

"Households will continue to be cash strapped and this will feed through to ongoing challenges for business," they said. 

READ MORE: 113 jobs to be lost at Amcor Flexibles in Workington next month