Businesses get a boost in Budget 2014

Julian Smith, Member of Parliament for Skipton and Ripon, has welcomed the Budget 2014 announcement to support manufacturers and businesses across the constituency.

The measures, aimed at helping them invest and export, include:

• Cutting the cost of manufacturing by cutting the cost of energy bills for manufacturers, with targeted support for energy intensive industries.

• Doubling the Annual Investment Allowance to £500,000 - meaning almost every business will pay no tax upfront when they invest in the future.

• Delivering the most competitive export finance in Europe by doubling the government lending available to exporters to £3 billion and cutting the typical interest rate on it by a third.

Julian said:

“The Budget is positive news for businesses across Skipton and Ripon who will receive support with their investments and exporting opportunities. I am confident these measures will ensure hard-working, dedicated business owners in Yorkshire have the confidence to invest in the future creating growth and a more resilient economy.”