The small business Budget

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Simon Sweetman offers his assessment of the small business measures introduced in the Budget.

This Budget is mostly about small business. We cannot ignore the macroeconomics, and it may well be the case that the chancellor has got this horrendously wrong and that the massive cuts in public spending and the consequent job losses will plunge us into the double dip recession.

The “independent” Office of Budget Responsibility looks a bit less independent when you realise it has just been set up by this government and staffed by people who think the way they do.

Oh, and watch out for your student loan repayments when he sells the book off to a vulture fund.

However, let’s get the World Cup reference out of the way now:  England play Slovenia today and Slovenia has i...

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23rd Jun 2010 15:48

There are 850,000 payers of small profits rate

941,000 payers of CT in 2007/08: 47k @ main rate, 40k at MSCR and 850,000 @ lower rate. 1.3m companies in the UK so about 350,000 don't pay CT.

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24th Jun 2010 09:51

Fiscal drags

What about all the fiscal drags, allowances and thresholds that were not updated with inflation ?

I suppose George (Gideon?) is happy to continue with those ...

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24th Jun 2010 14:24

vat rise

I think the effecta are over stated here. History shows that such rises have a twofold effect- the first is to boost pre vat rise sales , the second in a temporary downturn for about another quarter fiscally. If you look at the price rise which in required on say a TV, household electricals etc it is unlikely to be a 'make or break' increase...just as the drop was last year.

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24th Jun 2010 20:44

Unlike Gordon...

... I agree with Sue. Business groups aren't going to be able to make a credible case for the harmful effect of the VAT rise when they made such a loud noise saying the cut to 15% made no difference.

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