Budget Response from Brandspace Chief Executive

Brandspace Chief Executive’s 2011 Budget Response

23 March 2011

Chief Executive of north west-based Destination Media Specialist, Brandspace, offers his response to the 2011/12 budget announcement from Chancellor George Osborne. Hughes comments that there is reason for optimism among SME’s with the introduction of Enterprise Zones, a capital investment allowance increase and more support for apprenticeships, and commented:

“While this budget doesn’t offer anything radical, it does provide some cause for optimism – particularly for small businesses and stimulating entrepreneurial activity. The reduction in corporation tax isn’t huge, but merging income tax and N.I. is long overdue. It will benefit businesses in the long term, cutting paperwork and giving small businesses extra room for new hires. As the head of a fast-growth company, I can testify to the importance of being able to fill new positions as the need arises, which is why I’m also encouraged about the extra commitment for apprenticeships.

I also welcome the idea of Greater Manchester being a designated enterprise zone. Many of our clients are small companies, so whether these measures help to create new jobs and practical conditions for investment is yet to be seen. I hope the chancellor’s measures, such as the increase in capital investment, will help SME’s in our region to get the funding they need for growth.”

ENDS

Media Contact: Matthew Connaughton, on 01625 418 843 or .(JavaScript must be enabled to view this email address).