TaxAdministrationBudget follow-up: Tax revenues to be shared

Budget follow-up: Tax revenues to be shared

The government has begun the process of sharing tax revenue - earned from the creation of additional start-up businesses - with the regions in a bid to counter criticism that Regional Development Agencies lack the budget to achieve economic development.

Link: Budget special

Gordon Brown also announced revised workforce development plans with the objective of relocating 20,000 jobs in non-departmental bodies from the South East to the regions.

‘Moving employment away from South East where business is more buoyant, will give a boost to regional economies which have been begging for more support as well as reducing the burden on housing in South East,’ said Clive Lewis, head of SME Issues at the ICAEW.

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