The Budget fall out

As I write, one of our management team Nel Woolcott is at a Budget breakfast event held by the Stamford Chamber of Commerce, gauging the reaction of local businesses to the Chancellor’s announcements yesterday.

Generally, I was encouraged by his speech, seeing it as positive for businesses and job creation.

The changes to Corporation Tax will, I believe, encourage businesses to invest in their workforce. Speeding up year-on-year reductions creates certainty for businesses. That, in turn, encourages growth which is, of course, good for the recruitment sector.

The change in the 50p rate of tax, albeit delayed for a year, sends a positive message to home-grown entrepreneurs that the UK rewards success and job creators – again good for our sector.

Of course, no budget ever ticks every item on everyone’s wish list.

Mr Osborne did miss some opportunities to give businesses a boost and so, in the medium and long term, encourage job creation. I would have liked to have seen specific measures introduced to cut EU red tape In fact, any simplification of regulations would have been welcomed, particularly surrounding the agency workers’ and the pensions auto-enrolment system. And an employers National Insurance holiday for businesses employing young people would, I believe, have gone some way to ease the spiralling burden of youth unemployment.

But I guess, we can’t have everything – at least not in one go!