Bosses have rounded on John Healey after he delivered a Budget that did "nothing" for businesses or the economy.
Chief executives criticised the Chancellor for failing to provide support on energy costs even as he helped households.
Business leaders said the Budget did nothing to boost growth, and that some policies, such as an inflation-busting rise in the minimum wage, would actively harm the economy.
Rain Newton-Smith, the chief executive of the CBI, said the Chancellor had failed to live up to the "big ambitions" of Andy Burnham's government as he had announced "nothing concrete to provide breathing space for the vast majority of businesses".
Tina McKenzie, the head of the Federation of Small Businesses, similarly said that the Budget had contained "nothing to ease sky-high energy bills and nothing to make hiring someone more affordable".
Stephen Phipson, the chief executive of Make UK, an organisation that represents UK manufacturers, said the Budget had "failed to address the one issue that would enable this – high industrial energy costs".
Chief executives also criticised the Chancellor for failing to address the ballooning welfare bill, defence spending, or borrowing and debt.
Archie Norman, the chairman of Marks & Spencer, said: "Compared to the previous two Budgets and the dark threats foreshadowed by the Treasury, the Budget is a relief.
"After two years of pain, perhaps we should be grateful for that. But as a Budget for growth, it is a non-event."
Lord Cruddas, the chief executive of the trading company CMC Markets, said: "It was pretty useless at addressing the real problems the country is facing, with spiralling borrowing costs and higher bond yields.
"'Penny wise and pound foolish' sums it up nicely."
Andy Bell, the co-founder of AJ Bell, a stockbroker, said the Budget amounted to the Chancellor "kicking the can down the road" as it was "leaving big decisions, such as welfare spending and defence spending, until next year".
With such "hard decisions deferred", Mr Bell said, the Budget felt "very tactical". He said it had contained "nothing strategic, nothing about addressing growth in the economy".
In fact, business leaders believe that some of the decisions taken by the Chancellor have made things worse.
Ewan Venters, the executive chairman of Paul Smith, said an inflation-busting increase in the minimum wage would "place additional pressure on retailers".
"The Government should be focused on reducing the tax and cost burden on businesses if we want to protect jobs, encourage investment, and secure the future of the British high street," he said.
A majority of executives surveyed by the Institute of Directors said they were unhappy with the Budget. Just 19pc were supportive of Mr Healey's policies, against 53pc who said they viewed it positively.
The Chancellor announced 98 policies in the Budget, including raising the threshold for small business rate relief for retail hospitality and leisure businesses from £12,000 to £18,000. This exempts 70,000 more businesses from paying rates.
However, Mr Healey also launched tax raids on banks, gambling companies, taxi companies and online marketplace sellers, while cutting capital-gains-tax relief for the majority of business owners who sell their companies .
Lobby groups criticised the Chancellor as much for what he didn't do as for what he did.
Ms Newton-Smith said: "On the face of it, this Budget lacks the bold moves that would have made it easier for firms to invest, hire and grow."
She added: "Households will be grateful for some relief on energy bills, but there is nothing concrete to provide breathing space for the vast majority of businesses, who are already dealing with energy bills a third higher than their European counterparts, and with prices due to escalate further next year."
Ms McKenzie said nearly half of small firms expected revenues to shrink in the coming months.
She said: "This Budget should have been the moment to help small businesses with the soaring costs holding them back, and the taxes restricting job creation.
"Instead, they got nothing to ease sky-high energy bills and nothing to make hiring someone more affordable, while the increase in business rates relief excludes too many."
Mr Healey announced £2.6bn for household energy support, but nothing for businesses.
Anna Leach, the chief economist at the Institute of Directors, said the Budget was a "missed opportunity" and criticised the decision to hand £100 to 20 million households in council tax bands A to D to cover rising energy bills this winter. Economists have said the support is poorly targeted, with many better-off households included.
Ms Leach said that the money "would have been better used to reduce the cost of employing young people or reducing business energy bills".
Banks faced further tax increases after Mr Healey temporarily doubled the surcharge on bank profits above £100m from 3pc to 6pc for 15 months from January.
The surcharge is levied in addition to corporation tax, pushing the total rate paid by banks up to 31pc. David Postings, the chief executive of UK Finance, said the policy was not the best way to deliver growth.
Shevaun Haviland, the director general of the British Chambers of Commerce, said: "Taxing one part of the economy to help another is not cost-free.
"Albeit time-limited, a higher bank levy will affect the price and availability of finance, with costs travelling down supply chains to businesses already operating on tight margins."
Gambling companies said betting shops and casinos could face closure after Mr Healey announced he would raise the tax on gaming machines from 20pc to 25pc from April 2027, bringing in another £100m for the Treasury.
The Betting and Gaming Council said that almost 9,000 jobs and 1,000 betting shops and casinos could be at risk because of rising taxes.
There was more bad news for those running their own firms, as the Chancellor cut the limit on business asset disposal relief from £1m to £500,000.
