The Budget was a missed opportunity that will hit British business, Iain Duncan Smith has said today.

In a speech to the British Chambers of Commerce on Monday the Conservative leader renewed his attack on Gordon Brown's decision to raise taxes to pay for the NHS.

Forum Response: Institute of Directors

A spokesman for the Institute of Directors told ePolitix.com: "The IoD is extremely concerned about the increases in taxation on business.

"We are especially concerned about the increase in employer National Insurance contributions - which is a tax on jobs, pure and simple. The huge increases in NHS spending are a gamble; a gamble that resources will achieve results and a gamble that the economy will be strong enough to generate the resources.

"The rising tax burden can only damage economic competitiveness. Just as the rest of Europe is trying to reduce the tax burden, the UK is attempting to push it up."