Thursday, 22 March 2012

A Budget Built around Business

With the economy as it stands, everyone’s eye is on unemployment levels and job creation really needs to be driven by business, not the government. I talked to Marc Cullinane, Construct UK's Director, to find out his views.

"The reduction in corporation tax is a positive move, as is the somewhat controversial drop in income tax for the “top dogs”, which will ensure the UK, and London in particular, remain an attractive place for high earners who are also high spenders. It’s also good to see an increase in the lower tax threshold which will benefit lower income earners who have suffered the most as inflation has outpaced any wage increases. 
I would have also liked to see a decrease in some of the bureaucracies businesses are currently being put through. For us in the recruitment and staffing industry, the AWR (Agency Works Regulations) proved to be a huge administrative hurdle, of which the benefits are still unclear.
Overall, I’m optimistic that the budget will have some positive impact on the economy and therefore jobs which has to be a good thing."
Let's hope he's right!