What the chancellor's Autumn Statement means to Lancashire businesses

Chancellor George Osborne talked up growth in the UK economy, whilst promising good news for small businesses.

In headline announcements, stamp duty has been revamped, fuel duty frozen, R&D tax credits have been increased, whilst £500m of bank lending plus £400m of government-backed venture capital will be invested in SMEs, and a £45m package of support will be made available to exporters.

Jane Parry, lead tax partner, PM+M

"Chancellor George Osborne delivered his Autumn Statement to a mixed response. As always, there will be some winners and some losers from the measures announced. On some of them, the details will only emerge as consultation processes progress.

 


Mike Hartley, managing director, Praetura Asset Finance

“It’s great to see the government doing more to acknowledge the contributions made by Britain’s growing army of SMEs and taking action to support them. Ensuring that firms can source the best finance is imperative to improving growth and productivity, which is why the coalition’s pledge to invest a further £400m into the British Business Bank’s Enterprise Capital Funds programme is much welcomed.

 


Tony Medcalf, tax partner, Moore and Smalley

“This Autumn Statement has turned out to be an anti-climax for those businesses that were expecting to hear about business rate reform. Granted, the chancellor did cap the inflation-linked increase in business rates at 2 per cent, as he did last year, and he extended the doubling of the small business rate relief to April 2016. There was also a 50 per cent increase in the existing rates discount to help high street shops, pubs and cafes to £1,500 next year.

 


Claire Foreman, deputy principal, Runshaw College

“We are hopeful that the pledge to abolish national insurance on young apprentices will inspire more employers to recruit an apprentice as not having to make National Insurance Contributions (NICs) may be a deciding factor as to whether to recruit someone younger or older.

 


Clive Drinkwater, North West regional director, UKTI

“In the North West we have been pushing hard to grow the numbers of first time exporters for some time now, and my new exporter challenge has resulted in the North West region being the only one actually to grow its number of exporting firms. We still need to do considerably better, however, and this new package of support to help new exporters on their international journey is most welcome and will enable us to go faster and further in our quest to inspire a new generation of exporting firms in the region.”


 

Brian Berry, chief executive of the Federation of Master Builders

“Apprenticeship funding still hangs in the balance with no clarity offered by the chancellor in the Autumn Statement. We had hoped government would publish its response to the May 2014 consultation on funding reforms for apprenticeships but as things stand, we are no closer to understanding if ministers have taken heed of our advice and decided to review their ill-conceived proposals.

 


John Cridland, director-general, CBI “The major changes on stamp duty and business rates will be a shot in the arm for families and growing firms as they look towards 2015.

 


Colin Tice, tax partner, Cassons

"George Osborne’s Autumn Statement seemed heavy on rhetoric but light on real measures, perhaps in anticipation of next year’s election. The UK economy is growing at a rate greater than much of the competition and the rate of borrowing is forecast to reduce – there may actually be a surplus in 2018/19.

"These measures may appear Manchester-centric, but other cities can and will benefit. It is very probable that surrounding areas will also benefit, directly or indirectly. These must be regarded as very positive proposals."


Mark Schofield, director, Haworths Chartered Accountants

"With a general election looming in Spring 2015, the Autumn statement was very much a presentation of everything good the government has delivered since the coalition was brought into power four years ago.

Enjoyed this? Read more from Lancashire Business View

Latest news

1

University recognises adidas curator Gary Aspden

University recognises adidas curator

11 Jul 2025

2

Investment drives growth plan at CoolKit Coolkit Vans

Investment drives growth plan at CoolKit

11 Jul 2025

3

Story Homes submits plans for 140 new homes in Longton Story Homes plans

Story Homes submits plans for 140 new homes in Longton

11 Jul 2025

4

University of Lancashire climbs 14 places in student positivity survey Happy students at ULAN

University of Lancashire climbs 14 places in student positivity survey

10 Jul 2025

5

Forbes Solicitors achieves strong growth and promotes 15 Forbes Solicitors promotions

Forbes Solicitors achieves strong growth and promotes 15

10 Jul 2025

Background image for hub sign up block

LBV Hub

Leverage Lancashire Business View platforms

Post your news
Post your events
Post your offers
Build your network
Improve your SEO
Gain coverage in the magazine
Sign-up
Events
LBV123 July/August Launch Event
Lancashire Business View magazine launch
Networking
16 Jul 2025

LBV123 July/August Launch Event

Burnley College University Courses Building, Burnley, BB12 0AN

08:30 - 10:30

Lancashire Built Environment Conference 2025
BEC 315 X 315 Px
Networking
25 Sep 2025

Lancashire Built Environment Conference 2025

Blackpool Football Club, Blackpool, FY1 6HX

08:30 - 13:00

CMI Level 5 Management and Leadership Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Management and Leadership Course

Preston Campus, Preston , PR1 2HE

09:00 - 17:00

CMI Level 5 Project Management Course
UCLanAerialCampus.jpg.jpg
LBV Hub Seminars
21 Feb 2025 - 21 Feb 2026

CMI Level 5 Project Management Course

Preston Campus, Preston, PR1 2HE

08:00 - 17:00

Shaping Preston's future by remembering its past
1750160034867.png.png
LBV Hub Networking
16 Jul 2025 - 16 Jul 2025

Shaping Preston's future by remembering its past

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 20:30

Chamber Summer BBQ
LBV Hub Social
17 Jul 2025 - 17 Jul 2025

Chamber Summer BBQ

The Borough, Dalton Square, Lancaster, LA1 1PP

17:30 - 20:00

Preston Tech Connection: Web3 is Dead. Or is It?
July Longer Banner.jpg.jpg
LBV Hub Networking
29 Jul 2025 - 29 Jul 2025

Preston Tech Connection: Web3 is Dead. Or is It?

Society1, Coworking Space, Preston, PR1 3LT

18:00 - 19:30

Preston Freelancer Meet-Up: July
Longer July Banner.jpg.jpg
LBV Hub Networking
31 Jul 2025 - 31 Jul 2025

Preston Freelancer Meet-Up: July

Society1, Coworking Space, Preston, PR1 3LT

10:00 - 11:30

Cumbria Business Expo 2025
https---cdn.evbuc.com-images-880461633-4862066883-1-original.20241022-110415.jpeg.jpg
LBV Hub Exhibitions
19 Sep 2025 - 19 Sep 2025

Cumbria Business Expo 2025

Carlisle Racecourse, Carlisle, CA2 4TS

09:00 - 15:00

North West Business Expo 2025
https---cdn.evbuc.com-images-880456273-4862066883-1-original.20241022-105445.jpeg.jpg
LBV Hub Exhibitions
24 Oct 2025 - 24 Oct 2025

North West Business Expo 2025

Bolton Stadium Hotel, Bolton, BL6 6SF

09:00 - 15:00

Lancashire Business Day 2025
241122lbvlancashiredaylhp0647web
Networking
27 Nov 2025

Lancashire Business Day 2025

Burnley FC , Burnley, BB10 4BX

12:00 - 17:00

Advertise with us

Reaching 50,000 members, our print, digital and event platforms offer a fantastic way to raise your business profile and help you grow.

Find out more LBV122 Online Graphic
Subscribe now

Weekly news bulletin