THE CBI March 21, 2012 DIRECTOR GENERAL “An extra one per cent off corporation tax this year could make a big difference to investment intentions. Plans to reduce the top rate of tax to 45p by April 2013 will show our top and aspiring talent that this government wants them to create wealth here. (Osborne) stuck to his guns and [...]
THE BRITISH BANKERS’ ASSOCIATION March 21, 2012 DIRECTOR GENERAL “This was a Budget for business: it was about making it more attractive for businesses to do business here in the UK. It was also about giving businesses the confidence to invest in their futures and giving their customers the confidence to spend again. Crucially it underlines the fact that bank finance continues [...]
NATIONAL ASSOCIATION OF ESTATE AGENTS March 21, 2012 PRESIDENT “This Budget week is proving to be a double whammy for first time buyers: not only has the chancellor failed to offer any real help to lower and middle income homeowners and first time buyers, but from Saturday, the stamp duty holiday for first time buyers will be coming to an end. Property is [...]
THE AIRLINES’ VIEW March 21, 2012 CHIEF EXECUTIVE “At a time when the government talks about creating jobs and growth, its blinkered insistence on further increases in Air Passenger Duty achieves precisely the opposite. Inbound tourism is a major employer of young people, but international visitors are being turned off the UK because of the exorbitant level of APD (air passenger [...]
THE SHADOW CHANCELLOR March 21, 2012 LABOUR’S SHADOW CHANCELLOR “In last year’s Budget the chancellor promised to ‘put fuel into the tank of the British economy’. But since then our economy has stalled and unemployment soared. This Budget should have put jobs and growth first, but the Office for Budget Responsibility delivered this damning verdict: ‘We have made no other material [...]
THE TUC March 21, 2012 GENERAL SECRETARY “We needed a Budget that looked to the future and made jobs – particularly for young people – the national priority. Instead we have got a Budget for the rich by the rich. One minute the chancellor said he found tax avoidance morally repugnant, the next he rewarded it by cutting income tax [...]
THE DIRECTORS’ VIEW March 21, 2012 DIRECTOR GENERAL “The reduction of corporation tax faster than planned is a positive step in the right direction, which we have long called for. Britain urgently needs to become a competitive, low tax economy, so the chancellor must not deviate from this path. It will take time and serious action to rebuild this country’s reputation [...]
THE ENTREPRENEUR March 21, 2012 BUSINESS FOUNDER “The government’s attention to technology infrastructure in the Budget is right. Its plans to deliver superfast broadband to 90 per cent of the population, and to fund ultra-fast broadband in 10 of the UK’s largest cities, is certainly encouraging. School for Startups is currently hosting Web Fuelled Business bootcamps around the UK and [...]
CITY VIEWS: WHAT ARE YOUR FIRST IMPRESSIONS OF THE CHANCELLOR’S BUDGET?* March 21, 2012 AMI RICHARDS | FIDELITY “It seems that, overall, the Budget looks like a good thing. The personal allowance increase was needed. People are struggling to survive because things are so hard, so the more-than £1,000 increase should hopefully help.” COLIN HALL | GRESHAM COMPUTING “I’m happy the Budget didn’t mess too badly with childcare. The [...]
The budget held few surprises for the markets March 21, 2012 CHIEF MARKET STRATEGIST, CITY INDEX YESTERDAY’S budget re-affirmed the balance the coalition government is attempting to strike between growth and austerity, while not delivering anything dramatic, largely due to the widespread leaking of many of the new measures in advance. This budget felt much like reading a novel and then seeing the movie; there was [...]