“A penny off the pints at the pub”, was the announcement from Rachel Reeves that generated the biggest immediate reaction in her much-anticipated Budget - from many of her fellow MPs in the Chamber at least.

Although it won’t be met with the same cheer from Scotch whisky enthusiasts, with duty on spirits increasing in line with inflation.

While experts are now pouring over the details of the Chancellor's statement, there was a palpable sense of relief among the participants in the Scotsman Money roundtable discussion that there were no big surprises unveiled. No rabbits were pulled out of hats by Reeves who came across as confident and assured in her inaugural Budget.

As promised, the likes of income tax was left untouched, and alterations to other taxes were not as severe as many had feared.

Christine Yuill, partner and head of tax at Burness Paull,said: “It’s not as bad from a tax perspective as it might have been for investors.”

However, there was some unease around Inheritance Tax (IHT) changes. Reeves confirmed that from April next year, the first £1 million of agricultural property relief and business property relief will continue not to attract IHT. But at over £1m, IHT will be applied with relief of just 50 per cent.Euan Fernie, partner at MHA,commented: “It is disappointing they’ve taken relief down. People have to plan ahead now and look at the alternatives.”

On IHT, it was also announced that pensions will be subject to IHT. Bruce Hendry, executive director and head of the Edinburgh office at Calton,said: “I think, from the speculation, the Budget could have been a lot worse. But from a personal finance point of view the change to IHT for pension schemes will have a big impact on a lot of clients. A lot of people will have to revisit their plans and strategy.”

And on Capital Gains Tax (CGT), Fernie said: “The rates haven’t increased as much as we thought they might have.”

From a penny off pints, to Inheritance Tax changes - the Budget

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