Friday, 6 December 2013


Yesterdays autumn statement did show some confidence in the coalitions past three years of activity, but to me it sounded more like a party political broadcast than a financial statement.

The growth forecast for the next seven years by the OBR [Office for Budget Responsibility] did not have any correlation with what the chancellor had to say. He considers that the current 0.2% growth will turn into 2.7% by 2020, now that is optimistic.

Nice help for small businesses though in the form of business rates in England to be capped at 2% rather than linked to RPI inflation, with some retail premises in England to get a discount. Businesses moving into vacant high-street properties will have their rates cut by 50% and employer National Insurance contributions are to be scrapped on 1.5 million jobs for young people.

It does appear they are worrying about the 2015 election, because if the voters do not see an improvement in their personnel situation, then the grass will look greener on the other side.

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