How the Budget will affect your business
As the Budget took place only 50 days before the general election, it was an important one for the Government. George Osbourne said beforehand that there would be “no giveaways, no gimmicks”, but despite this business owners have generally reacted positively to the Budget. Although a change in government after the election could mean that the plans set out in this year’s Budget may not be implemented, shadow chancellor Ed Balls has confirmed that they ‘won’t scrap any of the Budget’. This is good news for small businesses who think the changes will help by reducing the complexity of taxes, lowering the cost of National Insurance in some cases and helping with online connectivity.
The Budget at a glance. Here are the key changes that will affect your business: