Budget proposals for SMEs ''are interesting but vague''
Date posted: 30 Mar 2010
Published by Tim Hill
Alistair Darling''s Budget plans to support the country''s small businesses have been labelled as "a little vague" by economist Michael Baxter.
The annual Budget address to the House of Commons outlined a £2.5 billion one-off growth package to promote innovation and investment in national infrastructure and key skills.
Published by Tim Hill
Alistair Darling''s Budget plans to support the country''s small businesses have been labelled as "a little vague" by economist Michael Baxter.
The annual Budget address to the House of Commons outlined a £2.5 billion one-off growth package to promote innovation and investment in national infrastructure and key skills.
In order to achieve this, a series of measures were introduced, including an agreement with RBS and Lloyds Banking Group that will provide a total of £94 billion of new business loans, nearly half of which will go to small and medium-sized enterprises.
However, editor of investmentandbusinessnews.co.uk Mr Baxter believes the plans to be interesting but generally vague.
He said: "He [Mr Darling] was talking about this capital growth fund and how £4 million has been committed to by the banks, which to be honest with you is not a lot of money really. I am interested to see how that pans out."
The Budget also guaranteed bank accounts for everyone, doubled the stamp duty threshold to £250,000 and increased duties on alcoholic drinks.
Please contact Matt Meyer, head of services for businesses, for further information or call on 01223 225292
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