If you are small or medium business owner in UK and you woke up this morning i am very sure the first thing on your mind will be the ardently awaited announcement by the finance minister George Osborne on the UK 2013 BUDGET this morning. If you remember my earlier post about small and medium business and effects of government policies on growth and performances. This is a pure good and live example.
The economic implications of today's budget will mean that the people expect a policy that will reflect in their current standard of living. A cross reference sample interviews among the small business owners seen on the TV this morning suggest that many small and medium business owners expect the Chancellor to reduce the VAT for the general public, some pressuring for the raise in income tax and the scrapping of the fuel duty increase. On his twitter this money he promise that his budget speech will aim at helping those who works hard in the betterment of overall economy.
So many factors are on inter play here but as the budget speech approaches, one can only guess what direction the finance minister's speech will go.
The general diagnosis is that the government priority in reducing the debt deficit will be the major bench mark of the numbers crunching that will be expected this morning on his speech. The reduction of the VAT as been agitated by majority small business owners so that customers will be motivated to come out and spend more as they have felt to be squeezed. Well, i am not sure it is completely feasible as the Chancellor can not seem to afford that in the current race to reduce the current debt. The £pounds is down 6% already this morning and of cos in the anticipation of what the budget direction will be and the speculations by banks in the financial market on how things will be at the end of business day today, i think the banks will be looking at growth rate numbers and in what year the economy will be expected to turn around and bounce back with full recovery from any minor economic down turn. So far so good the only witness is the present !
Well what can i say? The day is still young and in few hours the budget will be live. So grab your Tablets, iPads, iPhones, Laptops, PCs and TV, etc and watch out for the speech as it goes live. And the you can have your say.