Business West Comment on the Chancellor’s Budget

Phil Smith, Managing Director of Business West, comments on the 2016 Budget and this is what he said...

“The Chancellor delivered what will be remembered as a thin but business pleasing budget, as permanent savings in business rates will be applauded by thousands of small firms across the South West. We also saw further cuts to Corporation and Capital Gains Tax rates, a freeze in fuel duty and a devolution deal worth £900 million to the West of England region. Fears of a potential hike in taxes were unfounded and businesses will breathe a sigh of relief. However there is some worry around the downgrades of forecasts to UK economic growth and productivity, which raises some concerns about our medium term economic health.”