Budget Date Announced

Small Business News

Chancellor of the Exchequer, Alistair Darling, will deliver his first budget on March 12^th.

The announcement from the Treasury sets Wednesday 12th March, 12:30pm, as the date and time when Alistair Darling delivers budget 2008, his first budget since succeeding Gordon Brown as the man with his hands on the country's purse strings.

Already he has controversially "simplified" tax for businesses by abolishing taper relief on capital gains tax with his announcement in his pre-budget report that, first, there would be a flat 18% rate across the board, then backtracking and announcing he would make concessions on Capital Gains Tax, before finally making a CGT decision allowing relief on gains of up to a million pounds (to effectively help budding entrepreneurs)

With recent dips in the property market, a global "credit squeeze" and a predicted slowdown in economic growth, not to mention the Northern Rock issue, the new chancellor has his work cut out if he is to report on the state of the UK economy and make healthy plans for the future of Britain's small businesses.