Impact of Autumn Statement

In what turned out to be Philip Hammond’s first t and last Autumn Statement, the Chancellor revealed his plans to keep Britain ‘open for business’.

Solet’s look at 10 keypoints s for business owners. Help for start-ups: The government will com- - mit £400 million to stimulatee small businesses growth. Improving management: The government will provide £13 million to helpp businesses improve theirr management skills. Boosting productivity: The government will launch a £23 billion Nationall Productivity Investment Fund (NPIF) to to boost productivity in transport, digital communications, research anddevelopment, and housing.

Improving UK transportt structure:

The government is pledg-- ing£1.1 billion to upgrade locall roads and public transport, £27 million to develop an expressway connecting Oxford and Cambridge, and £220 million funding to tackle road safety.

Companies can deduct the cost of an electric chargepoint installation from their pre-tax profits.

Investing in full-fibre broadband and 5G trials:

The government will spend £11 billion to roll-out more full-fibre broadband by 2020-2021 ndn will also trial 5G mobile co ommunications. The gover rnment will provide 100 per ce ent business rates relief for ew full-fibre infrastructure oro five years from April 2017.

Helping boost export finance:

To make it easier for Britis sh businesses to export, the goo vern men twill provide additional support through UK Export finance (UKEF). Corporation Tax: Corporation Tax( currently 20 0 per cent) will fall to 17 per ce ent. National Living Wage: The National Living Wage willw increase to £7.50 an hour. Fuel duty: Fuel duty will remain froze en for a seventh consecutive ye ear. Regional funding: The government will award £1.8£1 billion to Local Enterprise Partnerships (LEPs) across England through Growth Deals.

The East of England will benefit to the tune of £151 million.