Budget News
Alistair Darling placed a great deal of emphasis on continuing the transformation of public services. Funding
must be matched by reform, he said. The budget outlines steps to give small and medium enterprises better access to Government contracts.
The
Chancellor has asked Anne Glover, Chief Executive of Amadeus Capital Partners, to look into what barriers
remain for SMEs in accessing contracts and examine the practicalities of setting a goal for SMEs to win
30 per cent of all public sector business in the following five years. A capital fund of £12.5m will support more women entrepreneurs.
On Gift Aid he announced a transitional rate of 22% to help mitigate against the losses from the reduction
in the basic rate of income tax, announced last year and due to come into force next month.
The Chancellor announced measures to eradicate child poverty with a focus on initiatives to bring parents
back in to work.