New “Help to Grow” programme and changes to EIS, SEIS and VCTs
The subject of business finance was touched upon through the announcement of a British Business Bank-led initiative to provide loans of between £500,000 and £2m. Amendments will me made to SEIS, EIS and VCTs to ensure support is in line with new EU rules. Read more here.Annual Investment Allowance will not go back to £25,000
Despite many businesses wanting clarification on the subject of the AIA, Osborne refused to be drawn into declaring its long-term future. Currently standing at £500,000, he said a decision would be made during the Autumn Statement – not much peace of mind for those needing to make investments with long lead times. Read more here.Government doubles UKTI support for firms exporting to China
In part to help it hit a target of £1bn in UK exports by 2020, the government is giving more money to UKTI so it can better help British businesses wanting to export to China. A focus will be on advanced manufacturing, transport, financial services, healthcare and life sciences. Read more here.George Osborne scraps annual tax return for businesses
£740m investment for cities of the future, Internet of Things and broadband
The government will invest £40m to develop Internet of Things technologies through large-scale demonstrator programmes, business incubator space and a research centre. Read more here.Unveiling of ”Northern Powerhouse” additional business rates
George Osborne said he was “ready to commit new money, new infrastructure, new transport and new science” to support the north, promising to invest £7bn in the region. He called an agreement with Greater Manchester on an elected mayor “the most exciting development in civic leadership” for a generation. Read more here.Biggest increase of apprenticeships confirmed and NI for under 21s abolished
Sharing economy boosted with government usage and northern hubs
The Budget announced a package of measures to unlock the potential of the sharing economy and to help UK businesses to succeed domestically and to expand into new markets overseas. Read more here. Have a look at our other Budget 2015 content:- UK Business leaders divided on contents of George Osborne’s speech
- Full transcript of George Osborne’s speech
- To see a continued recovery, the UK needs a turnaround in productivity
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