The Chancellor, George Osborne, presented the 2011 Budget on 23 March.

The Government’s economic policy objective is to achieve strong, sustainable and balanced growth that is more evenly shared across the country and between industries. 

This Budget builds on action announced in the Spending Review 2010 and the June Budget 2010 last June to rebalance the economy from unsustainable public spending towards exports and investment.  The objective is to support the UK’s long-term economic potential and help to create new jobs.

Please read below views of the main announcements from our experts in thebestofchester business community :

Ellis & Co Chartered Accountants

“George Osborne had an ideal opportunity to unveil a budget of great significance today and the people and businesses of Chester were counting on some strong measures to turn the economy around. We already appreciated, as he put in his own words, “we can’t afford a giveaway”, but a boost to business is vital, and to some extent he delivered. The corporation tax reduction of two per cent with subsequent one per cent falls is much needed, but of more note this region accounts for 10 per cent of the UK’s business start-ups, which, together with small businesses, were particularly and rightly favoured with exemption from domestic regulation, a 15 per cent increase in capital availability and an extended rates holiday to October 2012. It would also be a boon to the Chester area if we could secure one of the 11 remaining enterprise zones announced today. This all sounds great on the surface, though it will take time to see the effects, meanwhile the increase in VAT continues to pinch and soaring fuel prices continue to choke families and businesses alike, the scrapping of the fuel duty escalator and 1p reduction in duty provides some respite but the chancellor said himself, prices will continue to climb so the respite will be brief.”

For full details of our budget report and how they affect you and your business visit  http://www.ellis-uk.com/content/

Champion Chartered Accountants

The 2011 Budget statement was George Osborne’s second Budget and in his own words, it was a Budget to “put fuel into the tank of the British economy”. He explained that “this is not a tax raising Budget. But nor can we afford a give-away”.

The Chancellor confirmed that he had four economic ambitions for Britain and the Budget does provide for changes that may begin to work towards these goals.

Group Tax Director at Champion Accountants, Gill Molloy, gives an overview of the key points and how they may affect you, click here http://www.champion-accountants.co.uk/news/article.aspx?ID=375 to read more.

Morris & Co Chartered Accountants

So Who Are We To Believe?
Was the Chancellor George Osborne right when he said ‘We have put fuel into the tank of the British economy’?  Or should we listen to Ed Miliband who claims ‘It’s the same old Tories.  It’s hurting but it isn’t working.’ 

For full details of the changes in the budget and how they affect you and your business visit  http://www.moco.co.uk/docs/budget-report2011.pdf

For further advice regarding  The Budget 2011 contact Bill Benoy at Morris & Co on 0151 348 8400 or alternatively email him at bb@moco.co.uk.

McLintocks Chartered Accountants

This Budget follows on from the Coalition Government’s emergency Budget in June 2010 and the Comprehensive Spending Review in October. Given the ongoing challenging economic climate and the primary emphasis on reducing the deficit  it is not surprising that this Budget gave little away either for individuals or for businesses.

For full details of our budget report and how they affect you and your business visit  http://www.mclintocks.net/budget-summary-2011

Pursglove & Brown Chartered Accountants

The Chancellor, George Osborne, announced in his Budget plans to reform the nation’s economy and steps to help families with the cost of living. The Budget confirms that the Government will stick to its plans to reduce the deficit and sets out a new model of economic growth, based on investment, manufacturing and exports, where prosperity is shared across all regions and across all sectors.

The Government has published its ‘Plan for Growth’, based around four overarching ambitions:

to create the most competitive tax system in the G20
to make the UK the best place in Europe to start, finance and grow a business
to encourage investment and exports as a route to a more balanced economy; and
to create a more educated workforce that is the most flexible in Europe

For full details of our budget report and how they affect you and your business visit  http://www.pursgloveandbrown.co.uk/default.asp?cm=5