With a general election looming and the Government keen to kickstart growth, the Autumn Statement was always likely to deliver some good news for business. Among over 100 growth measures, the most significant was the decision to make full expensing permanent, which provides welcome certainty for companies planning large investments.
Yet in the end, the budget was as notable for what it didn’t include as what it did. Full expensing applies mainly to plant and machinery – and will predominantly please large businesses with money to spend. Tax relief and extra investment were targeted at R&D-intensive businesses and advanced manufacturing. And Net Zero didn’t even merit a mention.
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