Autumn Budget 2018: Here’s what Yorkshire business leaders want to see

October 25, 2018

Chancellor Philip Hammond’s latest Autumn Budget is almost here. On Monday afternoon, we’ll get an insight into how the Government plans to collect and spend our taxes over the next financial year.

With Brexit right around the corner and the government committed to somehow raising an extra £20bn for the NHS over the next five years, business leaders are going to be watching closely.

At Bdaily, we asked Yorkshire business leaders what they want to see in Mr Hammond’s Budget. Here’s what they had to say:

Tim Mills, Investment Director of the Angel CoFund

“Having to balance on a political tightrope between the declared end of austerity and safeguarding the UK financially for any adverse consequences of Brexit – the Chancellor is going to have to do some creative thinking for this year’s Budget.

“However, from a business perspective, my hope is that he recognises the vital role that scale-ups and entrepreneurs have in future proofing and creating growth in UK economy – and resists the temptation to unsettle these businesses with tax changes. A strong, positive message that the UK is an attractive environment for high-potential businesses will be especially important in the wake of macroeconomic uncertainty.

“To this end, the Budget should preserve the reliefs that are already in place to incentivise – R&D tax relief, entrepreneurs’ relief, and the Enterprise Investment Scheme (EIS) – and avoid adding any unnecessary administrative burden onto fledgling businesses.

“It’s easy to underestimate the importance of keeping things simple for companies. For a small businesses, with limited human resource and making their budgets go as far as they can, administrative burden has the potential to be just as damaging as direct taxation. My hope is the Chancellor opts to make the UK an attractive market for growth by keeping things simple.”

See the full article on the BDaily Website here

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