Western Mail

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Corporation Tax Cut Aims to Make Uk the Business ; Osbornebidstoattractinvestment Q Tax Cut to Make Uk the Place to Do Business

CHANCELLOR George Osborne provided a boost for business in his Budget yesterday by going further in cutting the rate of corporation tax. The tax rate will be cut in April by 2% from its current 28%, rather than the 1% reduction previously announced. Mr Osborne said it will fall by 1% in each of the next three years - to reach just 23%.

The Budget Drove Home the Fact That the Tories Occupy the Treasury and Labour Are Aching to Take It Back ; Chancellor George Osborne Yesterday Delivered a Budget in an Age of Austerity. Political Editor David Williamson Watched Him Attempt to Refuel the Economy While Under Fire - and Politicians From Across the Spectrum Assess Whether the Budget Is a Roadmap to Renewal or a Recipe for Ruin

GEORGE OSBORNE leaned forward as the moment for him to deliver his Budget speech neared and the temperature in the House of Commons edged toward icy. Prime Minister's Questions is a knockabout of theatrical glory in which the two sides of the chamber each get a turn to holler at one another.

'Chancellor's Measures Will Help Business and Families'

THE Budget builds on the foundations we have laid for economic recovery and growth in Wales. It creates the right environment to support businesses and families, and gives the Welsh Assembly Government money to ensure Wales matches the commitments we have made in England to promote jobs and prosperity.

No Respite for Wales' Young Unemployed ; Owen Smith Labour Shadow Wales Office Minister and Labour Mp for Pontypridd

WHERE'S the growth, George? Where are the jobs? Where's Plan B for the millions of people struggling to make ends meet? Those are the questions that Labour is asking on behalf of working people in Wales and across the UK, questions that should be ringing in the ears of Tory and Liberal MPs who cheered on their Chancellor as he announced that the economy was shrinking while the unemployment line was growing. It's quite an achievement when you think about it - to inherit an economy where, despi...

Budget Should Be a Wake Up Call to Welsh Government

THE tax cuts for Welsh workers announced yesterday, taken directly from the Liberal Democrats' election manifesto, will reduce income tax by pounds 326 for over 1.1 million Welsh workers, taking 51,000 of the poorest workers out of income tax altogether. I am proud that this measure, that delivers progressive reform of our taxation system, has been delivered as a result of Lib Dem influence.

'There Was Nothing in the Budget That Will Help Wales'

AS THE economy struggles to recover from the recession, keeping people in work and securing growth is what is most important. That is why the most important announcement yesterday was not the Budget itself, but the Office for Budget Responsibility's (OBR) economic growth forecast.

Measures to Cut Taxes and Red Tape Welcomed but a Note of Caution Sounded Over Enterprise Zones ; Welsh Business Leaders Give Budget Their Broad Backing

BUSINESS leaders in Wales broadly welcomed the Chancellor's Budget yesterday, after he announced measures to cut taxes and red tape. CBI Wales director, David Rosser, was pleased at the Chancellor's emphasis on making Britain more competitive. "TheUKBudget will help businesses growS and create jobs," he said. "The Chancellor has made clear the UK is open for business.

Trying to Make More of Our Goods 'Made in Britain' ; Melanie Jamison, Tax Manager Ktsowensthomas

GEORGE OSBORNE has declared that we need to get Britain making things again. He has announced steps to make Britain the best place in which to start and grow a business. The large companies ratS e of corporation tax is to be cut by 2% in April 2011 as opposed to the 1% decrease previously announced.

Osborne has Big Business Ambitions ; Craig Blackmore, Director Ktsowensthomas

GEORGE OSBORNE'S second Budget was expected to be a steady-as- she-goes affair with little room for manoeuvre it would seem. But a few rabbits were pulled out of the hat by Mr. Osborne with decreases in fuel duty, a doubling of the reduction in corporation tax next month and further decreases planned.

For Private Savers, at Least the Goalposts Appear to Have Stopped Moving ; Victoria Acheson, Tax Manager, Ktsowensthomas

WITH the UK population living longer, the need to provide for retirement years has never been greater. The coalition Government had already confirmed previously that the state pension age for both men and women will reach 66 by 2020 with further increases in the state retirement age proposed.

Little Inspiration As Budget Produces a Mixed Bag for Property Sector ; Stephen Williams, Head of Tax Strategy, Ktsowensthomas

THE Chancellor introduced a mixed bag of property taxation measures, none of which are particularly inspiring. First-time buyers will be thrown a lifeline in the shape of a pounds 250m assisted deposit scheme for new homes.

Will a Plea for Patience Be Enough? ; Roy Birtles, Tax Director, Ktsowensthomas

HIGH personal tax rates crush enterprise, undermine aspiration and often undermine tax revenues as people avoid them, said George Osborne. Mr Osborne confirmed that he regarded the 50% rate of income tax as temporary. However, he gave no indication of when it was likely to be disappearing, justifying his decision on the grounds that now was not the time, especially when people on lower incomes are being asked to make sacrifices because ultimately "we are all in this together".

George Gives to Charity ; Kate Moore, Corporate Tax Manager Ktsowensthomas

CHARITIES were one of the few sectors to benefit in this Budget which was otherwise planned to be "steady as she goes". As part of his pledge to simplify the tax system at every level, the Chancellor announced a number of reliefs aimed at maS king it easier for charities to reclaim the Gift Aid element of donations.

Inside

Cuts Could Trigger 'Up to 52,000 Job Losses'

AS many as 52,000 jobs in Wales could be lost as a result of the UK Government's spending cuts, the Unison union has warned. Unison Wales said the impact of eradicating the fiscal deficit by 2015 would result in 26,000 public sector job losses in Wales. The union is forecasting the same number of job losses in the private sector, where it said there was little prospect for significant job creation.

Pupils Get in the Zone to Power Scientific Thinking

A POPULAR education centre has welcomed children to celebrate National Science and Engineering Week. Youngsters from Cwrt Rawlin Primary School in Caerphilly were among the first to visit GE Healthcare's Education Zone. They learned about electrical circuits and how they can be used to power different objects and act as a communication tool.

Skillswales

SCIENCE, innovation and skills are crucial for our future and this week we took a major step forward with the announcement that Fujitsu is to deliver the critical phase of the pounds 40m High Performance Computing Wales project. High Performance Computing Wales (HPC Wales) will give Wales the most advanced and evolving computing technology available and is of strategic importance to the Welsh economy.