BusinessCompany NewsBudget draws little cheer from business

Budget draws little cheer from business

A survey carried out by PricewaterhouseCoopers following yesterday's speech by Gordon Brown shows that few businesses expect any positive benefits from the Budget.

Link: Budget 2004

The poll of 300 representatives of public and private businesses found 57% believed the Budget would make no impact while 27% said the impact would be negative.

Key concerns were changes to transfer pricing, with 57% saying this was unreasonable, and nearly two-thirds said the measures to encourage enterprise and skills development would have little or no impact.

John Whiting, tax partner at PwC said: ‘The chancellor presented what he called a budget for stability but it is clear that business was hoping for more help and remains to be convinced about the Budget’s measures.’

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