Budget welcomed by Dorset Chamber of Commerce and Industry

Dorset Chamber of Commerce and Industry (DCCI) has welcomed today’s Budget.

Chancellor George Osborne claimed his plans put ‘future generations first’ with a ‘sugar tax’ on soft drinks among the headline grabbers.

DCCI chief executive Ian Girling said: “The Chancellor’s clear focus was on delivering stability to the economy, protecting growth and maintaining business confidence.

Budget welcomed

“Reductions to corporation tax, measures to encourage enterprise and the continued freeze on fuel duty are to be welcomed.

“Internet connectivity is absolutely essential for businesses in Dorset. We welcome any moves to help build the digital infrastructure in the county with the proposed trial of the 5G network planning tool in Bournemouth.

“The raising of the thresholds for business rate relief will also go a long way to helping many small businesses although we would like to see more fundamental reforms.

“Investment in education is encouraging although any reforms must include measures to ensure young people are ready for the workplace when they leave school.

“More broadly, the continued clampdown on tax avoidance and evasion is also encouraging along with cuts to capital gains taxes and investment in infrastructure.

Ian added: “The small businesses amongst our membership may well see more value in this Budget than some of their larger counterparts although there were few surprises. As ever, the devil will be in the detail.”

The Budget’s main surprise was a sugar tax on soft drinks, the equivalent of about 18-24 pence per litre. The Chancellor said that the money would be spent on primary school sports.

Mr Osborne said that the country was still on course to clear its deficit by 2019/2020 despite speculation before the Budget that he would miss the target.

Visit the DCCI website for more as well as the BBC website for in-depth details. The full Budget document is available on the Government website.