Budget 2013 / Businesses

As I say every year the true value of a budget is often not ascertained until sometime after the budget has been delivered. It is understandable that in an era of 24 hour news snap judgements and analysis are demanded by news outlets and there is no shortage of commentators willing to give such judgements.

What is clear from this budget is that Britain is on the road to recovery. Yes, it is a long road and yes, progress is slower than everyone would like but nevertheless we are still on the road to recovery. This budget will not make a dramatic difference to the pace of recovery but it will, I believe, underpin the recovery and help build confidence in our economy which is the one thing above all else which we need.

Businesses need confidence to invest and continue to recruit more new employees. By continuing to reduce the rate of corporation tax down to a single rate of 20% and by cutting Employers National Insurance Contributions by £2,000 plus a raft of other measures businesses will know that Government is on their side. For every job lost in the public sector six have been created in the private sector as the economy starts to re-balance. The measures in the budget will hopefully help this trend to continue.