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Autumn Statement 2013

This year's Autumn Statement was presented against a backdrop of encouraging UK growth figures, and the Chancellor said the UK economy is growing faster than any other major economy. However, the Chancellor resisted the temptation to simply cut taxes, and presented another fiscally-neutral Autumn Statement, with any increased spending balanced by increased taxes elsewhere.

In recognition of the financial pressures on many households and businesses the Chancellor has reduced the impact of government policies on energy bills and has frozen fuel duty for the rest of this Parliament. There was also a package of support in relation to business rates, plus the abolition of employer's national insurance for most under-21 year olds, both of which are intended to stimulate further growth in jobs.

Although there are always a few interesting changes, this year's Autumn Statement will have little impact on most businesses, either positive or negative, with no money in the pot for any major give-aways. The Chancellor may well have decided to play safe at this stage and wait for his Budget speech prior to the next election to announce any radical changes.

Please click below to view the summary and contact us if you would like to discuss how the announcements might impact you or your business.

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