partner feature
A BUDGET FOR BUSINESS
By Gerald Davies Chairman, Kymin Group F
orget the penny off beer and other trinkets, the most important section
of the Budget was that devoted to business. Why? Because if business does well, we all do well. It’s worth noting that during the last year, for every job lost in the public sector, six have been created in the private sector.
The Corporation Tax cut doesn’t happen
for two years. However, George Osborne announced that National Insurance bills will be cut by £2,000 for every fi rm. This will have the result of very small fi rms taking on their fi rst member of staff. It is estimated that this will help 450,000 such fi rms, which will pay no Employer National Insurance when this comes into effect next April.
The scrapping of the 3p a litre fuel duty
rise, due in September, will help all of us but, of course, business has to make journeys, so will also benefi t.
The abolition of stamp duty on share
transactions in AIM listed companies will encourage investment into these smaller enterprises.
The one per cent cap on public sector pay
will relieve companies under pressure from wage demands.
Whether all these measures have the
effect that the Chancellor wants, we should all hope that they do for, as I have said, our future as a thriving economy depends on their success.
Business people that I speak to are, for the
most part, optimistic. I encourage everyone to look on the bright side. There is nothing so infectious as enthusiasm, and we need to spread this around.
In early January I put forward the
possibility that the index of Britain’s largest Companies, the FTSE100, would reach 7,000 by Christmas this year. I am prepared to stick my neck out again and repeat my prediction. This Budget has strengthened my opinion.
www.kymin.co.uk |
www.redmayne.co.uk/newport THEbusiness QUARTER 11
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