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Budget 2013: The One for Businesses?

The big Budget announcement is this week and the Institute of Directors (IoD) has urged the Chancellor to make sure it is a clear business statement, making sure Britain is top of the list for both small and big business. With growth so hard to come by at the moment, many are hoping that the Budget will go some way to making it easier to achieve for any size business.

“George Osborne has done difficult, essential work so far in taking on Britain’s bloated state and crushing deficit. Chancellors should be judged on the tough decisions they make — not their popularity in the polls — so he must not budge an inch on the crucial job of deficit reduction,” Simon Walker, Director General of the Institute of Directors, said.

“He also deserves praise for recognising that deficit reduction must be backed up by improved competitiveness, achieved through measures such as lower Corporation and Income Taxes.”

“This budget is the time to build on his work so far with radical steps to make Britain the best place in the world to do business. He must ensure that where money is available for investment it is focused on specific priorities, not frittered away on a wide range of special interest schemes.”

“Our economy will return to growth when the energy and expertise of British business is unleashed, and international investment is attracted. On Wednesday, the Chancellor has the chance to make that happen with a clear signal that Britain is the place to do business – and he should seize it with both hands.”

Many are also hoping it will ease the funding situation for small businesses – fingers crossed finance will be easier to achieve for SMEs following the Budget.

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