Spending Review and Autumn Statement 2015

Yesterday Chancellor George Osborne set out his spending plans for the next four years in the Autumn Statement and Spending Review. 

26/11/2015, news




The headline points for business were:

  • Uniform business rates are to be abolished with elected Mayors allowed to raise rates under certain conditions
  • Apprenticeship Levy set at 0.5% of employer wage bill, with £15,000 allowance for eligible firms.
  • 26 new Enterprise Zones to be created
  • BIS department funding to be cut by 17%
  • Every small business to have their own digital tax account by the end of the decade
  • Growth of 2.4% forecast for 2015, 2.4% for 2016 and 2.5%, 2.4% and 2.3% in subsequent years.
  • Refocused export and investment promotion activity to support more exports and other business opportunities for British firms
  • £13 billion investment on transport in the North over this Parliament, backing innovative businesses with a range of investments in world-class scientific research, and supporting further Northern Powerhouse trade missions to key emerging economies
  • Corporation tax will fall to 18% by the end of the Parliament.

 

Click here to read the full document 'Spending Review and Autumn Statement 2015'

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