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Essay / Research Paper Abstract
This 8 page paper considers what measures for small businesses were announced in the UK Governments budgets of 2002 and 2003 as well as the pre-budget statement of December 2003. After outlining the relevant measures the paper then considers how these will impact on a small business. The bibliography cites 3 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TEbud2003.rtf
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Unformatted sample text from the term paper:
as internal polices, and ways that the company chooses to compete. Other factors will be external to the business, factors which the company, especially a small company, cannot influence. In
the UK the main announcements of government economic policy are within the budgets which take place every Spring. When seeking to assess the implications of the budgets for a small
business we can first look at the two recent budgets, 2002 and 2003, as well as the pre budget statement made in 2004 as a preview of the possible 2004
budget. Then the measures seen can be applied to businesses. In 2002 the budget speech stated that there was the need to increase stability by encouraging enterprise in the
economy. As such we may expect the budget to have measures which will help small to medium sized enterprises, as it is often quoted that these are a main source
of economic growth. The government announced a measure that will relax the insolvency rules, meaning that those who fail in business may be able to restart again in a
shorter period, the rules were to come in from April 2004, and the period of insolvency was reduced from three years to only one year (H M Treasury, 2002). However,
this is a move to stimulate growth in the future, and as such has little impact now. In terms if measures that have an impact one of the man
measures was the reduction in corporation tax. The starting rate for corporation tax was 10%, this was reduced to zero percent. IT is worth noting that it was reduced, rather
than eliminated at this level due to ease of administration and also the ability to increase it at a later date if desired. The impact of this was expected to
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