Chancellor Rishi Sunak delivered a radical Budget speech which was packed with announcements about almost everything.
From pledging £30bn to tackle the fallout of the coronavirus outbreak and a £500m hardship fund - to a beer duty freeze and £6bn for the NHS.
But it was the country's small businesses which seemed to come out on top in what was the first Budget of a new decade - following a pledge to scrap business rates for thousands of firms.
The chancellor told how shops, cinemas, restaurants and music venues with a rateable value of less than £51,000 will see their business rates abolished over the year.
He went further again by adding that any eligible retail, leisure or hospitality business will pay no business rates whatsoever for the next 12 months in a tax cut worth of £1bn.
The chancellor - who has launched a fundamental review into the long-term future of business rates - also pledged to support the small businesses who are already exempt from business rates with a £3,000 cash grant per business which is a further £2bn injection direct to 700,000 of the country's smallest businesses.While Entrepreneur's Relief was not fully abolished, Mr Sunak instead chose to reduce the lifetime limit from £10m to £1m.
Other measures announced in this afternoon's budget include a £30bn package to support businesses through the coronavirus crisis and reforms to the benefits system.
Now business leaders from across the West Midlands say the government must turn promises into actions.
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Richard McNeilly, managing partner at Dains Accountants, which has an office in Stoke-on-Trent, said: "When considering Rishi Sunak’s first budget we should remember that the Government is under enormous political pressure to deliver on the environment, transport, infrastructure - and to deliver measures which shoulder the burden of coronavirus.
"In my opinion, it is a missed opportunity to permanently address business rates and the decision to reduce entrepreneurs’ relief with immediate effect to £1million will not be popular."
"In summary, the budget offers little creativity and business is likely to be underwhelmed."
Paul Faulkner, chief executive of the Greater Birmingham Chambers of Commerce, said: "The measures announced today to support businesses impacted by COVID-19 are very welcome - but we would remind the Chancellor that the job isn’t done just yet.
"Too many businesses are still waiting for grant support announced in the wake of the November floods to reach them.
"Many businesses are feeling the impact of Coronavirus now. These announcements have to turn into action immediately."
On the announcement that £21.3m has been allocated to the Birmingham 2022 Commonwealth Games Trade, Tourism and Investment Programme, Mr Faulkner added: "The Birmingham 2022 Commonwealth Games represents a once in a generation platform for the city and region.
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"The funding will allow the region to capitalise on this opportunity and turn 11 days of sport into a lasting trade, investment and economic legacy.”
The Chancellor’s Budget also promised new London-style transport funding settlements for the West Midlands mayor, investment in the Midlands Rail Hub and a dedicated trade envoy for the Midlands.
Neil Philpott, private business leader for PwC in the Midlands, said: "This Budget has some good news for Midlands private businesses, especially those small retail and hospitality businesses facing the challenges of both restrained demand and the immediate effects of COVID19.
"In particular, the short term relief from business rates for smaller operators will be welcomed, and not just by retailers, but also by those in the leisure and hospitality sector included for the first time.
"This Budget recognises the immediate challenges that consumer businesses face from COVID-19 with both cash grants for the smallest businesses and business interruption loans for larger ones.
"It is important now that businesses are fully aware of the reliefs and support available to them and their employees."
Tim Pile, Chair of the Greater Birmingham & Solihull Local Enterprise Partnership, said: "The immediate challenges faced by both our businesses and residents have been rightly addressed by the Government in today’s budget announcements.
"The Chancellor’s announcement on the provision of a fund to support small businesses impacted by COVID-19 - combined with the Bank of England’s term funding scheme and lowering of interest rates – is welcome news.
"Creating the conditions for businesses to continue to thrive is critical to the long-term success of our region, and indeed the wider country.
"LEPs clearly set out a call for increased spending on business support services, and I am pleased to hear the extension to start-up loans, funding to support scale-ups and additional funding for Growth Hubs marked out in the budget."
Business leaders in Coventry and Warwickshire welcomed the Chancellor’s Budget as one for the ‘here and now – and for the future.’
Louise Bennett, chief executive of the Coventry and Warwickshire Chamber of Commerce, said: "The Budget comes in the midst of the Coronavirus outbreak and on the back of the recent floods, during a period when we are in a transition period as we leave the EU.
"So, for businesses across Coventry and Warwickshire, I believe this was a Budget that dealt head-on with Coronavirus in a way that said, yes, there will be a short-term shock to the economy but that the Government will support companies – especially smaller firms – with that impact.
"The Government and the Bank of England have worked together to give confidence to companies that they are tackling the crisis head on and for companies to continue with their day-to-day business."
"There were lots of numbers flying around in terms of millions and billions of pounds of support but what’s vitally important is to make it easy for businesses to be able to access that in order for them to keep cash flowing at this time.
"As always, with Budgets and statements of this type the devil be in the detail once we have fully digested it."
Midland Connect's flagship Rail Hub was awarded £20 million.
The proposals include 24 extra train services every hour on commuter and inter-regional services between towns and cities including Coventry, Birmingham, Worcester and Hereford.
The latest government investment means the £2bn Midlands Rail Hub can move to the next stage of development.
Some of the proposed improvements could start to be delivered as soon as 2024, including the re-opening of platform 4 at Birmingham Snow Hill Station and improvements to line speeds between Leicester and Birmingham.
Midlands Connect chairman Sir John Peace said: "This funding pledge is a firm vote of confidence from the Government that it is committed to delivering the Midlands Rail Hub, an investment that will spearhead an infrastructure revolution and level up the economy.
"We believe in the potential of our proposals to revolutionise the region's rail network; it means more services, faster journeys and less overcrowding for passengers across the Midlands and beyond. We must now work at pace with the government to make sure that passengers begin to see improvements to their rail journeys as soon as possible.
"Today's Budget is a positive step towards the government's commitment to levelling up the economy, ensuring the Midlands Engine is at the heart of the 海角视频's future prosperity."