What the chancellor's Autumn Statement means to Lancashire businesses

Chancellor George Osborne talked up growth in the UK economy, whilst promising good news for small businesses.

In headline announcements, stamp duty has been revamped, fuel duty frozen, R&D tax credits have been increased, whilst £500m of bank lending plus £400m of government-backed venture capital will be invested in SMEs, and a £45m package of support will be made available to exporters.

Jane Parry, lead tax partner, PM+M

"Chancellor George Osborne delivered his Autumn Statement to a mixed response. As always, there will be some winners and some losers from the measures announced. On some of them, the details will only emerge as consultation processes progress.

 


Mike Hartley, managing director, Praetura Asset Finance

“It’s great to see the government doing more to acknowledge the contributions made by Britain’s growing army of SMEs and taking action to support them. Ensuring that firms can source the best finance is imperative to improving growth and productivity, which is why the coalition’s pledge to invest a further £400m into the British Business Bank’s Enterprise Capital Funds programme is much welcomed.

 


Tony Medcalf, tax partner, Moore and Smalley

“This Autumn Statement has turned out to be an anti-climax for those businesses that were expecting to hear about business rate reform. Granted, the chancellor did cap the inflation-linked increase in business rates at 2 per cent, as he did last year, and he extended the doubling of the small business rate relief to April 2016. There was also a 50 per cent increase in the existing rates discount to help high street shops, pubs and cafes to £1,500 next year.

 


Claire Foreman, deputy principal, Runshaw College

“We are hopeful that the pledge to abolish national insurance on young apprentices will inspire more employers to recruit an apprentice as not having to make National Insurance Contributions (NICs) may be a deciding factor as to whether to recruit someone younger or older.

 


Clive Drinkwater, North West regional director, UKTI

“In the North West we have been pushing hard to grow the numbers of first time exporters for some time now, and my new exporter challenge has resulted in the North West region being the only one actually to grow its number of exporting firms. We still need to do considerably better, however, and this new package of support to help new exporters on their international journey is most welcome and will enable us to go faster and further in our quest to inspire a new generation of exporting firms in the region.”


 

Brian Berry, chief executive of the Federation of Master Builders

“Apprenticeship funding still hangs in the balance with no clarity offered by the chancellor in the Autumn Statement. We had hoped government would publish its response to the May 2014 consultation on funding reforms for apprenticeships but as things stand, we are no closer to understanding if ministers have taken heed of our advice and decided to review their ill-conceived proposals.

 


John Cridland, director-general, CBI “The major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015.

 


Colin Tice, tax partner, Cassons

"George Osborne’s Autumn Statement seemed heavy on rhetoric but light on real measures, perhaps in anticipation of next year’s election. The UK economy is growing at a rate greater than much of the competition and the rate of borrowing is forecast to reduce – there may actually be a surplus in 2018/19.

"These measures may appear Manchester-centric, but other cities can and will benefit. It is very probable that surrounding areas will also benefit, directly or indirectly. These must be regarded as very positive proposals."


Mark Schofield, director, Haworths Chartered Accountants

"With a general election looming in Spring 2015, the Autumn statement was very much a presentation of everything good the government has delivered since the coalition was brought into power four years ago.

Enjoyed this? Read more from Lancashire Business View

Latest news

1

Wain Homes agrees partnership to complete development site in Blackburn Wain Homes site

Wain Homes agrees partnership to complete development site in Blackburn

27 Jan 2025

2

Panthera celebrate 5th anniversary at clinical research clinic

Panthera celebrate 5th anniversary at clinical research clinic

27 Jan 2025

3

Barnfield Construction transitions to an Employee-Owned Business Staff Cheer Photo.jpg.jpg

Barnfield Construction transitions to an Employee-Owned Business

24 Jan 2025

4

Wallsauce looks to grow B2B customer base with increased trade focus Martin Emmott Rosebud and Andy Gerraty Wallsauce

Wallsauce looks to grow B2B customer base with increased trade focus

24 Jan 2025

5

CBP goes into administration Community and Business Partners in Blackburn with doors shut

CBP goes into administration

23 Jan 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
The Lancashire Festival of Business
FOB 315
Exhibitions
30 Jan 2025

The Lancashire Festival of Business

Impact Conferencing, Burnley, BB12 6QP

09:30 - 16:00

Skills Bootcamp in Procurement - Cohort 3
Blue-Modern-Land-Travel-Youtube-Thumbnail-2-1024x576.png.png
LBV Hub Awards
14 Jan 2025 - 18 Mar 2025

Skills Bootcamp in Procurement - Cohort 3

Community & Business Partners CIC, Blackburn, BB2 3UA

09:30 - 13:00

The Marketing Meetup IRL: Lancashire
LBV Hub Event Image.png.png
LBV Hub Networking
30 Jan 2025 - 30 Jan 2025

The Marketing Meetup IRL: Lancashire

Strawberry Fields Digital Hub, Chorley, PR7 1PS

18:00 - 20:00

Police Apprenticeship event
Student Centre Autumn 2022.jpg.jpg
LBV Hub Social
12 Feb 2025 - 12 Jan 2025

Police Apprenticeship event

University of Central Lancashire, Foster Social Space , Preston , PR1 2HE

16:00 - 19:00

February Preston Tech Connection Meet-Up: Tech & Our Planet
PRESTON TECH CONNECTION jan.ai.png.png
LBV Hub Networking
12 Feb 2025 - 12 Feb 2025

February Preston Tech Connection Meet-Up: Tech & Our Planet

Society1 Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Amber River True Bearing Quarterly Investment Seminar
LBV Hub Seminars
13 Feb 2025

Amber River True Bearing Quarterly Investment Seminar

Mercure Blackburn Dunkenhalgh Hotel & Spa, Blackburn Rd, Clayton-le-Moors, Blackburn, Lancashire, BB5 5JP

16:00 - 18:00

The Business Network Central & East Lancashire
LBV Hub Networking
13 Feb 2025 - 13 Feb 2025

The Business Network Central & East Lancashire

Mytton Fold, Langho, BB6 8AB

11:30 - 14:15

Sub36 Networking - Behind the beans
Sub36 Social1200Atkinsons New
Networking
14 Feb 2025

Sub36 Networking - Behind the beans

Atkinsons Speciality Coffee, Lancaster, LA1 1 EX

09:00 - 11:30

National Apprenticeship Week 2025 Celebration - Business Breakfast Showcase
Student Centre Autumn 2022.jpg.jpg
LBV Hub Networking
14 Feb 2025 - 14 Jan 2025

National Apprenticeship Week 2025 Celebration - Business Breakfast Showcase

Media Factory , Preston, PR1 2HE

08:00 - 10:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Employment Law, Tax and Payroll Update - East Lancashire
Employment updates - LinkedIn East Lancs-01.png.png
LBV Hub Seminars
26 Feb 2025 - 26 Feb 2025

Employment Law, Tax and Payroll Update - East Lancashire

Accrington Stanley Football Club, Accrington, BB5 5BX

08:00 - 10:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV120 Online Graphic 1
Subscribe now

Weekly news bulletin