Freezing benefits is a necessary step towards restoring discipline to our public finances, and ensuring that taxpayers get a fair deal from the welfare system.
We know that being out of work can scar young people for the rest of their lives, so we must do far more to help them into work.
Young people must have different options open to them and business stands ready to do more through training and apprenticeships.
The Chancellor made clear his commitment to a low tax economy, which will ensure that the UK becomes even more competitive and business friendly. However, he was equally clear that growth in the future must reach every corner of the country.
In a survey of IoD members immediately after the Scottish referendum, support for economic devolution to our regions and cities was overwhelming, and to achieve the stated objective of closing the North-South gap, the government must recognise this new appetite for change.