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Home -> News List -> Autumn Statement - How Will Your Business Be Affected?

Autumn Statement - How Will Your Business Be Affected?

The UK economy has stalled in the last 18 months. Net GDP growth in the last 12 months has been just 0.5%, inflation peaked at 5.2% in September and unemployment has consistently risen over that period.

As a result, Government borrowing has risen more than expected, presenting the Chancellor with a significantly more difficult task than previously imagined if he is to eliminate the structural deficit by the end of this Parliament.

New Office for Budget Responsibility forecasts, downgraded growth for 2011 to 0.9% and figures for 2012 from 2.5% in March to just 0.7% - in other words, 2012 will see a further slowing of the economy in comparison to 2011.

This Autumn Statement then, presented a challenge – how to keep the Government’s deficit reduction programme on track, whilst also stimulating growth in the short term through new fiscal measures.

Find out how your business will be affected by the Autumn Statement here