Gerald Davies, executive chairman, of Newport-based Kymin, on last week's spring Budget

It could have been better presented but like most of politics these days, it was dominated by thoughts of 'Brexit'.

Hidden in the small print, there was an increase in Tobacco duty, which pleased me. The duty now forms 91 per cent of the price of cigarettes.

The basic problem, which was not fully explained, is that the tax base, from which to provide the expenditure, that everybody says they need, is shrinking.

There are fewer employed people and many more self-employed… who pay class four and class two NI contributions.

National insurance is a tax. We should all realise that.

A basic rate employee actually pays about 45 per cent tax, not 20 per cent. How? Basic tax plus employee NI plus Employer NI. (If the employer did not pay NI on employees, that money could form part of their wages and find its way into the economy via consumer spending).

This, and every government must stop spending money. Just this week, Jo Johnson (brother of Boris) has appointed another top official to represent students interests. From my experience, students are more than capable of speaking up for themselves.

They should start sacking people and cutting expenditure. (One good way is not to employ any new ones).

I would call the Budget a missed opportunity to sort things out.