Mar 8, 2023
Budget 2023: What a florist, gym and cafe want to see
A huge rise in corporation tax, a significant cut in government support for energy costs and an end to tax breaks for business investment are all due to hit at the beginning of April. Jeremy Hunt may well offer new incentives for investment and could possibly extend energy support for business at more generous levels than the cutbacks previously indicated but there seems no prospect yet that a rise in corporation tax from 19% to 25% will be cancelled or deferred. Despite the economic pressures, companies have so far proved resilient and the falling cost of wholesale energy and some commodities has seen business sentiment bounce up slightly from recent low levels. Mr Priestley urged the chancellor to help firms with energy costs and also business rates. "If they can see the government is prepared to back them, by acting on childcare, energy costs, green funding and investment, then the future could soon look a lot rosier and greener," he said.
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