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The Chancellor has kept his promise! The Spring Statement 2019

/ Business and Economy, Government, Quarterly Updates

Author: Henry Ejdelbaum

Tags: Government, money, Quarterly Update - March 2019, SME, Spring Statement

AIMS Accountants - Spring

This year’s Spring Statement hasn’t exactly been an exciting affair – thank God for that. The Chancellor has kept his promise to avoid making the Spring Statement a “2nd Budget” and provided a relatively subdued set of announcements and changes, with few stand-out events or comments.

There isn’t really much to take away from the Spring Statement this year, but some of the few more major announcements are:

  • £100m pledged to help fight the knife crime problem that has become epidemic in recent months.
  • A £3bn initiative to build 30,000 new affordable homes
  • From 2025, any new homes built would be banned from having fossil-fuel heating.

The most relevant announcement to SMEs was the bringing forward of apprenticeship reforms announced in the Budget. The package, worth around £700m, is a welcome boon to small businesses.

The Spring Statement may have not been interesting, but with the situation with the EU ever-changing, and the economic impact uncertain, we could still be in for sweeping changes in the next few months.

For further information please contact your local AIMS accountant.