The credit crunch Budget, delivered today by the the beleaguered New Labour Chancellor of the Exchequer Alistair Darling has been given a wary thumbs up by the British Marine Federation.

Rob Stevens, Chief Executive of the BMF, said: ‘The British Marine Federation welcomes any measures from government to support business’ cash flow and also welcomes efforts to boost trade overseas and improve skills and training. From an initial analysis, the measures set out in the Budget today appear to reflect the messages we have been communicating to government, however we will be looking at these in more detail to assess whether they go far enough in helping marine businesses suffering from the effects of the recession.

‘The BMF will be informing members of any new opportunities in due course and will continue to represent the interests of the sector at the highest levels of government.’

It will not be a sentiment shared by potential new boat buyers earning more than £100,000 who are to be hammered with a new 50 per cent tax rate.