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news opinion
It has to be good that 600,000 people will be lifted out of tax, following the chancellor's decision to raise the income tax threshold to £9,205 ...
Raising the personal allowance will, of course, put more cash in many millions of workers' take-home wage packets. In theory.
It is only theoretical because, as with most Budgets, this one will be broadly neutral for many people, as any give- away will be clawed back through additional revenue- raising measures elsewhere.
It's the same for the so-called rich. While the top rate of income tax will be reduced from 50% to 45% from April next year – and that is the most controversial measure in this Budget – cash to pay for this measure will be farmed in other ways, and the better off in our society will probably end up not being, well, any better off….
Which makes you wonder how much of the theatrics on March 21 is economics and how much is politics.
We do support the corporation tax cut to 24% from next month. Having too high a corporation tax rate is a disincentive to businesses to expand; indeed, a disincentive to companies to make any kind of decent profit. Let's hope it reduces to 20% soon.
We like the idea of enterprise loans to help young people start their own business; although experience of such loans in the past is that they are easy for governments to announce, far harder for entrepreneurs to find.
All in all, this Budget will not be a major turbo boost to the economy, more a small aerodynamic aid to help us on our way.
David Murray Publisher
www.businessmag.co.uk
Budget: ‘Terrific’ boost for UK video games industry
TIGA, the trade association representing the UK games industry, said today that the government’s announcement that it intends to introduce a tax relief for the UK video games industry was a “brilliant” decision and “terrific” news for the games development sector.
TIGA, the only trade association to have consistently campaigned for tax relief for games development, described the provision to implement the tax break for games production as a “decisive victory” for the UK video games industry which would increase employment, innovation and investment in the sector and would help to power the economic recovery.
TIGA secured Games Tax Relief in the previous Labour Government’s final Budget in March 2010, but it was dropped in the June 2010 Budget. Since then TIGA has campaigned relentlessly for the Relief.
Dr Richard Wilson, TIGA CEO, stated: “This is a brilliant decision by the Government and terrific news for the UK video games industry. It is also a decisive victory won by TIGA through audacity, determination and endurance. Like a boxer knocked down by his opponent, we refused to accept defeat and kept getting back in the ring. This victory will benefit not just the UK games development and digital publishing sector but also the wider UK economy.
“Tax relief for the video games sector will increase employment, innovation and investment in the UK video games industry. Our research shows that Games Tax Relief should generate and safeguard: 4,661 direct and indirect jobs; £188 million in investment expenditure by studios; increase the games development sector’s contribution to UK GDP by £283m; generate £172m in new and protected tax receipts to HM
Duke of Kent opens SecurEnvoy’s new Global HQ
SecurEnvoy has chosen Merlin House, Theale, Berkshire as its global headquarters and last month the Duke of Kent officially unveilled a plaque to mark the occasion.
SecurEnvoy is enjoying its best year on record, growing year on year by 55%. The company has expanded its global reach from 42 countries to 47 through its successful partner programme – most recently in Russia, Czech Republic, USA, Thailand and Hong
Kong. The success doesn’t stop there as 2012 has not only seen SecurEnvoy expand rapidly into new offices in Theale, but it has also opened offices in Nuremburg (Germany ) and Tampa (USA).
The British-based inventor of Tokenless two factor authentication (2FA), now leads the market in providing 2FA on mobile devices, using SMS messaging, to deliver users a one-time passcode to access
Treasury, and could cost just £96m over five years.”
Jason Kingsley, TIGA chairman and CEO and creative director of Rebellion of Oxford, said: “Congratulations must go to the chancellor, the Government and its officials in making this long hoped-for decision. It will save jobs and companies, promote growth, build financial confidence and bring in much needed export income from around the world. It is exciting that they have made such a positive move and we look forward to working with them on the details of implementation. This is also a huge success for TIGA, for its members both old and new, and for the wider video games industry that TIGA represents.”
Patrick O’Luanaigh, CEO of nDreams of Farnborough, added: “The Government has made a wise investment by committing to TIGA’s Games Tax Relief today and the whole of the UK industry will applaud them for this decision. TIGA has fought a great campaign on behalf of UK developers and digital publishers. With this result, the UK video games industry should attract more investment and will create more high-skilled jobs.”
data remotely. Its customers benefit from significant reduced time to deploy and a zero footprint approach.
Awarded the Queen’s Award for Excellence for Innovation last summer, SecurEnvoy has gone on to win business globally, with companies looking for a best of breed IT security company recognised for delivering an innovative, unique solution that solves a problem practically.
With a partner workforce of over 1,000, selling its solutions globally through their successful partner programmes, SecurEnvoy anticipates it will continue to grow its customer base by a further 50% during the forthcoming year.
In the May issue of The Business Magazine
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THE BUSINESS MAGAZINE – THAMES VALLEY – APRIL 2012
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