Responding to today’s Budget

“Although the country faces a huge fiscal challenge, the UKDBA believes the Chancellor’s budget has struck a good balance between fiscal responsibility without placing undue pressure upon hard-pressed consumers by imposing new consumption taxes.

The decision to raise corporation tax places the burden, quite rightly, on those companies which are prospering and at the same time provides an incentive for the most progressive business to invest, grow the taxation base of the future and create the new employment the economy so desperately needs. We welcome the initiative to encourage capital expenditure by increasing the capital allowances available on growth projects.

The Chancellor’s specific focus on providing training skills and digital transformation should be welcomed and we would encourage more co-ordinated investment in this regard in years to come. The members of the UKDBA stand ready to provide support and guidance on this important matter.”