One type of business that might benefit from the Budget announcement that duty on petrol is to go up again in the summer by 3 pence a litre is bicycle shops.

Nick Wilkinson, chief executive officer of Evans Cycles, told the Today programme's Simon Jack that they have to "work hard" to keep their bicycles affordable by getting them made in the Far East and looking at new countries like Cambodia to assemble new bikes.

But he said that they are "pedalling into a headwind in terms of the consumer economy, confidence remains low so getting people to spend money on a bike is about persuading people its about value for money".

He said that there are 45 Evans' shops across the country and 30% of its business goes through the website.

"80%t of our customers are men," he said but added that they are working to get more women cycling and employing more female staff.

In terms of how the Budget has affected their business Mr Wilkinson said that the "customer know that the government needs to deal with deficit and then its all about growth", adding that they will be helped by the reduction in corporation tax.

"We just need to see consumers gain confidence," he added.

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