This year's Budget will be presented on 19 March 2014. All the political parties are keen to firm up their policy positions – honing their arguments ahead of the May 2015 election. For George Osborne, the Budget will be his final chance to make any significant changes to fiscal policy before the elections.
Alongside the political battle ground, the economy is growing again, and the Office for Budget Responsibility (OBR) thinks it will continue doing so for the foreseeable future. Government borrowing is falling, and the deficit is predicted to be eliminated by 2018/19. Companies are still sitting on a lot of cash - economic growth thus far is consumer led (and impacted by the spending of payment protection insurance (PPI) repayments and compensation). If companies are going to invest the cash, this could be either through M&A activity, capital investment or on innovation.
On the surface, it may feel that there is no need to fuel growth at all as things are improving without any help. Nonetheless the Chancellor has made it clear that there is still more to be done, the recovery is far from secure and the economy is still too unbalanced.
A Budget to boost growth?
With the Budget 2014 just days away, we've compiled our wishlist that we'd like to see addressed by Chancellor George Osborne. Our recommendations are based on our experience on the ground of hundreds of businesses, new data and research. Read more of our insights here.
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