Budget gets 4/5
The chancellor has passed four out of five Budget tests set by the ICAEW to deliver a Budget that will help drive the economic recovery. ICAEW CEO Michael Izza said: “UK businesses have played their part in helping get the UK economy through the downturn – by maintaining employment and revenues. They now need certainty and confidence in the recovery. While the focus on jobs and investment is important in the short-term, businesses will want to know more about what they can expect in the longer term.”
CIPFA’s head of policy, Ian Carruthers agreed: “The Budget contained modestly encouraging economic figures. However, we still don’t have any details of public expenditure beyond 2011. Tough choices still have to be made on the level of cuts and where they will fall.”
The ACCA called it a ‘balancing act Budget”. Small business policy adviser Manos Schizas felt the credit adjudication service was ‘a good idea’. The Budget’s emphasis on access to equity rather than debt finance is also sopt on, he ventured. “You don’t build new industries on debt!, explained Manos.
PQ Magazine 1/4/2010