george osbourne

Government Attempts to Reassure Small Businesses over Apprenticeship Levy

Government Attempts to Reassure Small Businesses over Apprenticeship Levy

The government have tried to reassure small businesses that they will not be affected by the introduction of the apprenticeship levy, stating that only large companies will be forced to pay it. However, the chancellor and government have failed to disclose what a larger company constitutes, with rumours suggesting that the Treasury is considering including businesses with 50 employees. In an interview with The Financial Times, one Whitehall aide said; “We have been clear that it is larger firms that will be focused on,” but the government still haven’t finalised what the cut-off point is. In the summer Budget, George Osbourne announced that large employers would have to pay a percentage (suggested as 0.5%) of their payroll to fund the apprenticeship programme. Under the programme, a compan... »

Government to Force Banks to Forward Small Businesses to Alternative Finance Providers

George Osborne and Vince Cable are preparing to push through legislation that will force high-street banks to automatically send small businesses rejected for loans to alternative funding companies. According to the Telegraph the legislation, which is to be included in the Queen’s speech on June 4, is designed to change the bank’s dominant position in small business lending and boost the role of alternative finance, such as crowdfunding and peer-to-peer lending. Osborne made it clear in his 2014 budget speech that small and mid-sized businesses will play a vital role in the economy’s future and the treasury feel that banks’ dominance is having a negative effect on the growth of this sector. According to the Telegraph the chancellor and other key government members are determined to passing... »

Chancellor Wants SMEs to Submit Budget Ideas

Small businesses with ideas for the March Budget can submit their proposals to HM Treasury online, following the launch of a new service unveiled by the Chancellor. The HM Treasury’s Budget representaion allows individuals, interest groups and representatives to send their ideas for the Budget direct to the desks of Treasury officials, ahead of this year’s Budget on 23rd March. “I want to hear about your brightest and best ideas, because next month’s Budget will all be about growth,” said Chancellor of the Exchequer, George Osborne. “In particular, I want to know what businesses, large and small, want.” However, small-business owners are sceptical that the Chancellor will really listen to their proposals. “I think we have to assume this is a PR ruse, rat... »