LONDON: As George Osborne delivers the first Conservative Budget in almost 20 years, the outlook is surprisingly positive for North East businesses argues Square One Law’s managing partner, Alan Fletcher.
Amidst headlines of welfare cuts and a national living wage there was some good news for UK businesses, mostly surrounding tax measures to be introduced over the coming months and years.
George Osborne unexpectedly announced the gradual reduction of Corporate Tax to 19% in 2019 and then 18% in 2020. It has been suggested that this will help to offset any rising costs associated with the increase in the national minimum wage which is set to reach £9 per hour by 2020.
