Budget 2013 Reaction and Analysis: Overview
No-one was expecting any great giveaways from George Osborne in his spring Budget, and he confirmed at the outset that his proposals would be fiscally neutral. However, there were promises of tax cuts in the future, the headline grabbers being:
- £10,000 personal allowance from April 2014
- A new £2,000 Employer Allowance from April 2014
- 20% rate of corporation tax for all companies from April 2015
Mr Osborne also hopes to stimulate the construction industry with a new Help to Buy scheme. This will include loans for buyers of new build houses starting in 2013, and a new mortgage guarantee scheme starting in 2014.
The main changes affecting businesses are outlined in the following blogs.