Blog posts tagged Emergency Budget

Emergency Budget — a little Wordle in your ear

We knew it would be painful. We had seen “The first cut is the deepest” trotted out more times than a prize pig. But was it really ever going to be all that bad from a small business perspective?

Yes, VAT will go up to 20 per cent in January and cuts to business support have been outlined. But if you are one of the UK’s small businesses, there are some useful measures in place to ensure that you are part of the growth of the nation.

George Osborne said “Britain is open for business” on more than one occasion and with small business tax being cut to 20 per cent from next April and the employers’ National Insurance threshold increasing to £21 above inflation, there are reasons to be cheerful.

The Wordle above shows that “public” and “spending” featured prominently in the Chancellor’s speech, and that he studiously avoided the word “cuts” - even though he mentioned frequently the “billions” that need to be shaved off the national debt.

Pride of place is occupied by the word “tax”. Obviously, without taxation, the Government wouldn’t get close to recouping the billions that are required to get the economy on an even keel.

“Government”, “people”, “country” and “public” share a near equal billing, which is indicative of the “We are in it together” rhetoric that featured heavily during the election campaign. With such unequivocal fiscal measures taken today, the Government is keen to stress that the burden is to be shared among us all.