Cumbria Chamber of Commerce has pledged to work with businesses to access a new £400m Northern Powerhouse investment fund.

The commitment came from chief executive Rob Johnston in the wake of the Autumn Statement and Comprehensive Review.

Chancellor George Osborne announced a number of measures including an enterprise zone for Carlisle and subsidies for passenger flights from Carlisle Airport.

The money from the Regional Air Connectivity Fund should see services from Carlisle to London Southend, Belfast and Dublin start next year.

Mr Johnston was pleased to see Carlisle secure an enterprise zone at Kingmoor Park.

He said: “This will mean up to 100 per cent business rate discounts over five years, simplified planning, support to roll out super-fast broadband throughout the zone, and enhanced capital allowances.”

He said the Chamber would would work with businesses to access the Northern Powerhouse Fund.

Mr Osborne also announced a major house-building programme, while a mix of higher-than-anticipated tax revenues and lower interest on public debt allowed him to ease the pace of austerity, dropping controversial cuts to tax credits.

But not everything he did went down well with businesses.

Estate agents are warning that a new three per cent stamp duty levy on buy-to-let and second homes could hurt the property market.

Dean Johnston, tax partner at Dodd & Co chartered accountants, said: “It’s all smoke and mirrors. The Chancellor reduced Corporation Tax in the previous Budget, which is going down to 18 per cent by 2020.

“Now he’s getting the revenue back from the same big businesses through the apprenticeship levy.”

On the apprenticeship levy, Mr Johnston said: “This appears to be reasonably good news for smaller businesses as the £15,000 allowance means that less than two per cent of employers will pay the levy.”

Cumbria’s tourism sector should benefit from a £40m Discover England fund, and £60m a year to deliver the renewed GREAT campaign to promote Britain abroad.

Ian Stephens, managing director of Cumbria Tourism, said he was “cautiously optimistic” that the Autumn Statement would deliver benefits for tourism.

There was speculation that the Chancellor would announce a devolution deal for Cumbria bringing an elected mayor, multi-million pound investment fund and powers over skills, transport, housing and planning. He did not, but an agreement remains on the cards and could be sealed as soon as next month.

Brian Richardson, chief executive of H&H, the Carlisle-based auction mart to printing and property group, believes the county needs to scrap the two-tier system of county and district councils to make the most of the opportunities that lie ahead.

He said: “We need local government to develop a plan for a unitary authority to more efficiently deliver services and reduce the cost of that service delivery to provide a co-ordinated and efficient voice for the area.”