23 C
Monday, June 24, 2024

Budget seeks to encourage business investment

Tony Medcalf, tax partner at Lancashire-based MHA Moore and Smalley, said: “This was a budget where the chancellor looked to turn the heating back on after years of spending freezes. It was therefore a series of pragmatic funding announcements, rather than any grand vision.

“The chancellor sought to back up the prime minister’s ‘austerity is over’ message with spending announcements on road repairs, the NHS, social care, housing, schools and defence. In that sense it became a bit of a ‘sticking plaster’ budget for long-starved government departments.

“However, the business community will welcome the increase in the annual investment allowance from £200,000 to £1m for two years. That should encourage greater capital investment from businesses in new infrastructure, plant and machinery.

“Small businesses will also welcome moves to lower the contribution towards the cost of apprenticeships, while high street retail businesses will benefit from immediate business rates relief reductions. On personal tax rates, the bringing forward to April 2019 of the proposed increases in the personal allowance for basic rate and higher rate tax payers was a surprise.”



How goalie gloves can influence your mental game

When it comes to football accessories and equipment –...

NRG Riverside Sold to Astatine Investment Partners, Marking a New Era in Fleet Hire

In a significant development for the UK's fleet hire...

Best Horse Racing Betting Apps In The UK – June 2024

If you are looking for the top horse racing...

Hyatt Teams Up with Jack Parsons for My Duvet Flip

In an exciting new venture, Hyatt has partnered with...

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Jigsaw Conferences Ltd to Participate in Housing 2024 Manchester

Presenting 24/7 Emergency Accommodation Solutions at Premier Housing Event Jigsaw...

Best Betting Apps for iOS & Android on Mobile in the UK June 2024

This article is for those who wish to have...

Hyatt Teams Up with Jack Parsons for My Duvet Flip

In an exciting new venture, Hyatt has partnered with...

Bespoke appoints two new digital marketing strategists

Digital marketing agency Bespoke has appointed two new digital...

More News

How to protect yourself from overspending online

Online shopping and digital transactions have revolutionised the way we manage our finances and make purchases, with convenience and accessibility two of the main...

How to keep your banking details safe online

With online banking at our fingertips, it’s never been more important to safeguard personal and financial information. With cyber threats becoming more sophisticated and...

Xelix Unveils Helpdesk, a Gen AI Solution for Streamlined Vendor Query Management

Xelix, a leading provider of Accounts Payable and Procure-to-Pay software, proudly announces the launch of its newest solution, Helpdesk. Helpdesk is designed for enterprises dealing...