Emergency Budget: comment from industry - a Budget for business?

The 2010 budget was delivered in a fiscal environment which we have not seen in the UK for decades. The scale of the government deficit and the need to reduce that deficit without jeopardising economic recovery posed major issues. The example of the problems which Mediterranean economies and in particular Greece are facing provided the backdrop. The degree of pre-trailing of measures and issues had created an atmosphere of anxiety.

In this situation what could business expect or hope for? What has it been asking for? Business recognised that tax rises would be part of the deficit reduction strategy but it sought a long term tax policy which enhanced the competitive position of the UK as a place to do business in and from. That tax policy should provide a clear direction of travel so that business could plan over the longer term and be built...