Today’s
Budget is expected to lift the mood of the nation, with predictions from key financial players that
George Osborne’s plans will finally start to breathe life back into the economy.
The regeneration of British businesses will be at its focus, with concessions on Corporation Tax and up to £100 million to spend on up to ten ‘Enterprise Zones’. Small businesses will be supported by the promotion of apprenticeships for young people and reforms to maternity leave.
Tax avoidance and evasion will also be addressed, with a
shake-up of rules regarding non-domiciled individuals and a tougher clampdown on illegal tax evasion with fines and prosecutions, expected to save the economy £1 billion.
Other general concessions will include a postponement in the 1p fuel duty rise, increasing the Personal Tax allowance band and raising the starting point of income tax. The state pension is due to rise to £140 per week, but this isn’t due to be implemented until 2015.
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