Companies in the South East give their initial reactions to the Spring Budget and the impact it will have on future business and the economy.
Tim Walker, MD of Aura Technology, said: “Although times are still tough for many businesses and we have a way to go until full confidence returns, there were plenty of reasons to be optimistic in this budget.
Nigel Bostock, Chief Executive, Crowe said: "The budget was always going to be a balancing act for Rishi Sunak. Although post-Brexit, the UK continues to be in the ‘eye of the storm’ of the pandemic, albeit with positive indications ahead with the progressive vaccination roll-out programme and the gradual step 1 to 4 plan to ease restrictions over coming months.
Partner Sue Dowling, head of leading Thames Valley law firm Blandy & Blandy’s employment law team, discusses the extension and winding down of the furlough scheme, changes to the level of government support available and how we can help affected employers and employees.
Protecting, creating and supporting jobs – EY comments on the Budget.
Spokesperson Gareth Anderson, head of tax at EY in the south, comments on today’s Budget: “Today, Rishi Sunak set out his three-point plan, which he said aims to protect, create and support jobs, fix the public finances and build our future economy.
Director at Hampshire-based accountancy firm HWB, Michaela Johns, said the budget will be welcomed by businesses but added a note of caution. “Overall the budget statement is good news for business and hearing that entrepreneurs' tax relief remains intact, will be particularly welcomed.
Chris Harber, head of immigration at Reading-based tech law firm Boyes Turner said: “It was encouraging to see some key immigration announcements in the chancellor’s budget statement, which will be good news for technology firms and the life sciences sector."
Chancellor Rishi Sunak today set out plans for the future in the the 2021 budget – here, legal experts at UK law firm Shoosmiths offer their views on these announcements.
Shoosmiths’ head of financial services, Stephen Dawson, observes: “We see something of a “buy now pay later” budget with ongoing significant financial commitment to support the economy. This includes the commitment to freeze personal taxation until 2026.
Robin Shepherd from Barton Wilmore comments on news that Portsmouth and Southampton will be freeports:
"It’s fantastic news that the Solent has been granted freeport status. The Solent region is recognised as an international gateway, not only to the EU but also to the rest of the world,
and a significant amount of trade passes through the Solent port as a result.
“So it’s great news for the Solent but it’s also great news for the UK, and we look forward to the investment that follows, to provide yet further improvements to the infrastructure to support the ports and help fuel economic growth in the Solent – from which all benefit.”