What Spring Budget 2016 Means for Small Business - Fleximize

Osborne Reveals 2016 Budget

Quick look at the main points for SMEs from George Osborne's latest budget

15th March 2016

By Elma Glasgow

As everyone anticipates the glory of the British spring to burst forth, we in the meantime await news from George Osborne's next budget – the third since his party claimed election victory last summer.

It doesn't feel like 4 months since his Autumn Statement, which brought pretty good news for British SMEs; Osborne announced the extension of the Funding for Lending Scheme and rate relief, and announced a £12 billion Local Growth Fund.

Also, with the EU referendum looming, it's expected the spring budget may be less dramatic with a potential Brexit on the horizon. With more cuts on their way, could small employers be hit with changes to employer pension contributions, on top of the introduction of the National Living Wage and uncertainty about the November-announced levy for apprenticeships?

Here's the round-up of budget news affecting SMEs

Economic overview


Small business




Jeremy Corbyn responded to the budget statement – his points included:

Budget 2016 papers are available here.