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Budget 2015: Osborne looks to revive business investment and productivity Budget 2015: Businesses look to Osborne to revive investment and productivity
(35 minutes later)
Osborne is also under some pressure to commit to the British Business Bank, a state-owned bank that gives money to support small and medium enterprises. Controversy has followed the British Business Bank ever since it was proposed. After it finally opened last year, a petition was started accusing it of inefficient use of taxpayers’ money. Now the Federation Of British Businesses is pressuring Osborne to revitalise funding for the bank, because it is “essential for diversifying the market and keeping it competitive.”Osborne is also under some pressure to commit to the British Business Bank, a state-owned bank that gives money to support small and medium enterprises. Controversy has followed the British Business Bank ever since it was proposed. After it finally opened last year, a petition was started accusing it of inefficient use of taxpayers’ money. Now the Federation Of British Businesses is pressuring Osborne to revitalise funding for the bank, because it is “essential for diversifying the market and keeping it competitive.”
The productivity of British businesses is also likely to be on Osborne’s agenda. Many business leaders may look to the Annual Investment Allowance, which allows companies to write off £500,000 of capital expenditure against profits. The AIA is due to drop again to £25,000 again at the end of the year. Businesses will be hoping for a new, permanently higher allowance to keep firms investing.The productivity of British businesses is also likely to be on Osborne’s agenda. Many business leaders may look to the Annual Investment Allowance, which allows companies to write off £500,000 of capital expenditure against profits. The AIA is due to drop again to £25,000 again at the end of the year. Businesses will be hoping for a new, permanently higher allowance to keep firms investing.
Osborne could also look to bring in new incentives in the form of capital gains tax relief to encourage longer-term investing “Rewarding investors in the tax system either through a reintroduction of taper relief or indexation, will help them to make better decisions, rather than being forced to buy or sell based on the tax they might pay,” said Danny Cox at Hargreaves Lansdown.Osborne could also look to bring in new incentives in the form of capital gains tax relief to encourage longer-term investing “Rewarding investors in the tax system either through a reintroduction of taper relief or indexation, will help them to make better decisions, rather than being forced to buy or sell based on the tax they might pay,” said Danny Cox at Hargreaves Lansdown.