What George should do in the Budget!


David Butler, director of Clay Shaw Butler, chartered accountants and business consultants, gives his views on what he’d like to see Chancellor George Osborne do in the Budget next week.
1. In view of the over £200 billion quantitative easing then the Chancellor should make the banks accountable to repay a percentage of this as quickly as possible. This money can then be put to immediate use to increase public spending and to generate the extremely important Construction sector.
2. We should continue to move forward to a simpler tax system thus attracting businesses outside the UK and thus of course retaining successful and incubator companies within the UK. The concept of reducing corporation tax for smaller businesses is therefore paramount.
3. Increase anti-avoidance measures and penalise those evading tax with financial measures well before criminal measures. The lower income band are most vulnerable and therefore the system of Tax Credits and Working Tax Credits should be merely a measure to assist prior to part-time or fulltime working.
4. We are aware that National Insurances increase to 13.8% but there should be some incentive for smaller firms who are expanding and need to employ.
5. Our businesses, particularly in West Wales, are disadvantaged with the absence of broadband in many rural areas. To remain competitive we need immediate assistance, which is however being addressed slowly.
6. The duty on fuel must be reviewed as our hauliers and general public can not fund this increase.
7. An increase in the VAT threshold to £100,000 would remove the burden on many small local businesses enabling them to input this additional time into the development of their business.
8. Further cuts to be made in the Welsh Assembly Government and realistic commercial job revaluations carried out.
9. An incentive for local businesses on Business Rates, particularly on empty properties where national firms have vacated due to insolvencies or corporate policy. This being for genuine businesses, not merely Christmas Wrap shops!
The team at Clay Shaw Butler can be contacted on 01267 228500 or through the website at www.clayshawbutler.com

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