Article by: Martin Scholes on 2013-03-20

PERSONAL ALLOWANCE

The NFDA have previously called on Government to increase the personal allowance so the news that personal allowance will increase to £10,000 from April 2014 is very much welcomed.

The NFDA supports any initiative that will increase the amount of disposable income available to consumers.

CONSUMER CONFIDENCE

Many of the measures in this year’s budget will help consumers by increasing the amount of disposable income they have available. Increasing tax allowances, reducing duty of beer and scrapping increases in fuel duty will assist the hard pressed consumer. We urge Government to commit to reducing the tax burden on consumers to help stimulate the UK economy.

CORPORATION TAX  The news that corporation tax will fall to 20% in April 2014 will be welcomed by businesses across the UK.  The merging of the small business rate to form one corporation tax rate for all businesses is a positive move fully supported by the NFDA.

NEW EMPLOYMENT ALLOWANCE

The NFDA is pleased to see this measure as it has addressed part of our recommendation to the Treasury for measures to help increase employment by removing the burden of employers national insurance on new starters.  This in turn will boost employment.

TRANSPORT MEASURES

The NFDA welcomes the general transport measures on fuel duty and road upgrades which will benefit road users across the UK. This is turn should have a positive effect on the vehicle market.