In light of on-going events such as Brexit, British SME owners are even more interested in the budget announcement this year. But has the chancellor delivered on their demands?
Chancellor Philip Hammond delivered the last Budget before Brexit, kickstarting his speech by saying ” an era of austerity is finally coming to an end”. Read the full transcript below.
At the International Fintech Conference in London, chancellor Philip Hammond announced the Fintech Sector Strategy in a bid to secure the UK’s place as leader of finance and technology.
Ahead of the chancellor’s first ever Spring Statement on 13 March, Philip Hammond has been called upon to use his speech to tackle late payment culture.
The anticipation was palpable as Philip Hammond made his way to Parliament to deliver his Autumn Budget, but I was left a little flat.
The Autumn Budget, chancellor Philip Hammond expressed, went a long way in ensuring peace of mind, with his numerous announcements including an increase in the National Minimum Wage.
According to Phillip Hammond, a new startup is spawned every single hour in the UK. As business owners, we all know that the UK’s 5.5m SMEs are the economic backbone of this country and they play a very significant role in boosting the economy.
With the debut Autumn Budget completed, Real Business has offered a quick and easy read of the event for UK SME leaders in just 500 words.
Philip Hammond insists the UK is on a technological journey, and backed that mantra up with an R&D tax credits and investment increase.
The announcement has been received fairly well, although some commentators have suggested that the chancellor could have done more to ease the pressure on SMEs.
As part of his Autumn Budget, Philip Hammond revealed a ten-year action plan will unlock the scale-up ambitions of high-growth SMEs with a £20bn investment package.
After the decision to put an end to the Autumn Statement, Philip Hammond has officially given his first every Autumn Budget speech – here in full.