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Budget will drive growth, businesses say

A survey of businesses throughout the UK has shown one-third believe the recently-announced spring Budget will boost economic growth.

Undertaken by business advisor BDO LLP, the survey uncovered widespread confidence throughout the UK, with just under one-quarter of businesses set to take on new staff directly as a result of the Employers' National Insurance Credit. This could see 240,000 new jobs created, icaew.com reports.

According to freshbusinessthinking.co.uk, almost half of those questioned by BDO LLP think the Budget will ease the pressure on them, whilst two-fifths think George Osborne's initiatives will help the UK become a stronger location for business investment.

Overall, businesses seem to have responded positively to the measures introduced in the latest Budget. 

Stephen Herring, a tax partner for BDO LLP, shared his thoughts on the news. He explained: "While there is always a great deal of debate as to the overall impact of the Budget on businesses, this year we can identify certain areas where businesses have cause for cautious optimism and the Chancellor should be pleased with the result."

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