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Budget 2008

Reaction from the business community to Alistair Darling’s first budget as Chancellor has been one of quiet disappointment, as Nigel Hutchings, Regional Affairs Director for Business West explained.

“This will be promoted as a family friendly budget but what has to be remembered is that working UK residents are now one of the most heavily taxed in the EU, with the average taxpayer now paying approximately 48% of their wages in tax.  It is disappointing that there are no additional incentives for higher-level adult skills. Many factors point towards an extension of working life, so government support for skills must extend to all ages.

It is also disappointing that the Budget did not include measures to reduce business taxes and improve rate relief.  However, it is pleasing to see the government remains committed to increasing the number of SMEs winning public sector contracts, reducing red tape and speeding up the planning system. We will wait to see how this translates into effective action.”

 

For more details of today’s budget, visit: http://www.epolitix.com/EN/