The aftermath: Budget round-up

Disappointing all-round, really, is the phrase which sums up the Budget for the majority of small businesses – no great surprises, but not much to encourage new entrepreneurs. If you didn’t have the chance to listen to Mr Darling’s 51 minute speech or follow our live blog or Twitter updates, though, we’ve rounded up the main points for businesses.

  • ‘Government support’ to protect 500,000 jobs – no word on what form that support will take. No mention of the cut in PAYE or Employers’ National Insurance experts were predicting
  • £1bn to support ‘low-carbon industries’ and R&D in clean tech
  • Measures to allow loss-making companies to reclaim taxes paid in the last three years until November 2010
  • Capital allowance doubled from 20% to 40%. "It will mean enhanced tax relief to support investment of up to £50bn this year, and will include £10bn for the vitally important communications industry,” says Darling
  • A £750m investment fund for ‘emerging technologies and regionally important sectors’
  • A £30 per week increase in statutory redundancy pay – bad news for small businesses making redundancies
  • A 2% rise in alcohol duty, hitting the already precarious pub trade

 

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