Budget 2011: business reaction (I)

By and large, business groups extended a welcome to the Budget, but some expressed doubts about whether the Chancellor had done enough to stimulate a private sector led recovery.

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Budget 2011: generating growth

Last year the spending cuts and the tax rises; this year renewal and recovery. That had long been the message offered by the Government in the approach to its second Budget, and the Chancellor, George Osborne was quick to assert the positive outlook of his statement.

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Budget 2011: online VAT filing for all

VAT filing is set to become compulsory for every registered business.

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Budget 2011: going greener

The Government has claimed it wishes to be the greenest ever. To add some credentials to the claim, the Chancellor announced in the Budget that the Green Investment Bank will have an initial capitalisation of £3 billion, not the £1 billion previously assigned it, and will launch a year early.

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Budget 2011: business support

Given that this was the much heralded post-cuts Budget, one with the ambition to set the economy on the road to recovery and growth, it came as no surprise that the Chancellor included a number of measures aimed at helping businesses.

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Budget 2011: personal taxes may see major change but not yet

The Budget contained no radical changes to personal taxes, but the Chancellor did flag up the Government's intention to look seriously at merging income tax and national insurance.

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Budget 2011: help for firms and motorists on fuel

As widely expected, the Chancellor opted to cancel the planned increase in fuel duty. He cited the impact of soaring oil prices on both firms and individuals.

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Budget 2011: business tax changes to boost enterprise

The Chancellor has introduced extra tax reliefs for innovative firms and entrepreneurs. These include research and development tax breaks and changes to the Enterprise Investment Scheme.

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Budget 2011: main rate of corporation tax to be cut

There was good news for larger firms in the Chancellor's second Budget as he announced a further cut in corporation tax. As part of the Government's strategy for growth, Mr Osborne said that the main rate of corporation tax will be reduced by 2 per cent as from April 2011.

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