Budget 2011: SMEs

Last summer we had the austerity Budget. This time it was a Budget for growth. Quite a tall order for the Chancellor to deliver with the backdrop of higher than target inflation mounting pressure on interest rates and disappointing growth figures. Notwithstanding this the Budget was packed with a raft of measures that should have a positive impact on SMEs. Admittedly a large number will be subject to several rounds of consultation before we see them on the statute book.

George Osborne is undertaking a rebalancing act to stimulate the private sector to take up capacity as cuts in public spending start to have an impact. At the same time measures are being introduced to reduce the level of reliance on the banking and finance sector.

There were four key headings in the Chancellor’s strategy for...