icTeesside - Budget cheer
icTeesside logo
icTeesside Evening Gazette Homemaker Motors NorthEast Jobs NorthEast
Search icTeesside for:


Budget cheer

Apr 1 2005

By Enterprise North East

 

Help in cutting red tape and investment in research and development uplifted manufacturers in the North-East in last month's Budget.

But there was concern that Gordon Brown could have done more to help the sector during his eight years at the helm of the nation's economy.

The Chancellor has promised to freeze corporation tax and pledged some simplifications of the regulatory regime - including the number of inspection bodies from 35 to just nine, and working with the Inland Revenue and Customs on a single tax account for small business to simplify their payment regime.

He also highlighted the creation of a Design Centre in Gateshead to assist the manufacturing sector.

Chris Thompson, chief executive of the Gateshead-based Express Group of manufacturing companies, which employs 350 workers, says: "On corporation tax, you have to be making a profit before you pay it. From what I can see, people in engineering and manufacturing are finding it more and more difficult to make a profit, so a freeze does not necessarily help business."

 

Top Top | Back Back |

E-mail to a friend | Printable version

 


 

Copyright and Trade Mark Notice
© 2012 owned by or licensed to ncjMedia Limited.
icTeesside™ is a trade mark of ncjMedia Limited.
Please read our Terms and Conditions and Privacy Statement before using this site.
 

Find your new job:
 
 
  e.g. secretary

 
 Contact
Special publications editor:
Alastair Gilmour
Telephone: 0191 201 6434
Mobile: 07930 144 846
Fax: 0191 201 6044
Advertising: 0191 204 3346
Enterprise North East
Thomson House
Groat Market
Newcastle upon Tyne
NE1 1ED
 Useful Links
One NorthEast
Business Link
TEDCO
Small Business Service
Government North East
InBiz Online
Learning+Skills Council
Entrust
Durham Business School