Not much for business

Published: Wednesday 25 November 2015

There was very little in the Autumn Statement that directly affects business.  

For small businesses there was an extension of the doubling of small business rate relief in England for a further 12 months to April 2017, at a cost to the Exchequer of £700m.  This means that 405,000 of the smallest businesses will continue to benefit from 100% relief from business rates with a further 200,000 businesses having tapered business rates relief.

The government is aiming to increase the number of apprentices from the current 2 million to 3 million by 2020.  An apprenticeship levy has been introduced for the largest 2% of employers from April 2017 to help finance this.  The levy is expected to raise about £3bn annually soon after it is introduced.