Budget Response

Tim Gray - partner at Clough & Willis..

There were some positive aspects of the Budget for SMEs and the wider local Bury business community which we, as a firm, broadly welcome. Initial responses from many of our corporate clients  have also reflected that view. Most notably were the decision to reduce corporation tax to 20% from April 2015 and the announcement of the Employment Allowance which will help companies reduce the actual cost of employing staff. It was also good to see new anti avoidance tax measures and the abandoning of the fuel duty rise that was planned to come into effect in September. However, more could still have been done to support industry in these tough times such as deferring next month's increase in business rates.