Andrew Hebden is Assistant Editor (Business) of The Journal »
Matt James runs fingerprint-recognition technology firm UKB Security »
James Mills is a web developer in the North East of England and founder of Refresh Teesside »
Phil Renton is managing director of North East IT empire Croft »
Matthew Rippon is an IP lawyer for BHP Law »
Formerly editor of a national business lifestyle magazine, Jez Davison is a business writer for the Evening Gazette in Teesside »
Ian Brown, Northumberland farmer and businessman writes about the agricultural industry »
Accessibilty Champion Steve Wilkinson on the importance of inclusion »
Shared Interest Staff at Newcastle's fair trade firm blog on their latest international missions »
PR man David Honeywell on raising your profile in the right places »
Marion Bernard is from NorthStar Equity Investors »
Caroline Theobald is the Managing Director of Bridge Club Ltd »
John Barton of Renew, on the region's low carbon and sustainable energy agenda »
Paul Williamson is Senior Partner at Deloitte »
Stephen Hall is Tax Partner at Deloitte »The Chancellor cocked his gun towards an expectant audience and pulled the trigger. But businesses were showered with hot air - and not a magic bullet in sight.
This year's Budget was more memorable for omissions than headlines, with the Chancellor ignoring a raft of potentially hard-hitting measures that could have saved jobs and businesses from going under.
With public finances heading for the rocks, Alistair Darling was unlikely to mastermind a second major bail-out fund for industry, having underwritten billions of pounds of bank lending in January.
But he could have done a hell of lot more to win over disillusioned businesses without spending a small fortune.
He could, for instance, have given guarantees that banks would open the vaults of lending to businesses. Even profitable firms will be in trouble if they can't access vital funds for capital investment.
He certainly should have made rebates on business rates automatic, with companies justifiably asking why they have to claim back what is rightfully theirs.
The fuel duty rise was a smack in the face for Teesside's growing logistics army still struggling to fend off earlier hikes, while a staff wage subsidy would have been a morale-boosting shot in the arm for cash-strapped manufacturers struggling to hold onto skilled labour.
Although Darling couldn't be blamed for ignoring fantasy calls for a corporate tax holiday - which would have pushed public debt far deeper into the mire - he missed a political opportunity to wow corporate voters and kick-start the growth needed to satisfy his wildly optimistic economic forecasts.
Only days after predicting that output will return to positive territory by the end of 2009, official figures showed a 1.9% slump in GDP during the first three months of the year.
The combined 3.5% drop over the last six months is believed to be the steepest decline since the Second World War and with industry confidence still fragile, it could be several quarters before this decline is reversed.
I'm sorry, Mr Darling, but the sums just don't add up. If you are going to go for growth of that magnitude, at least show us how it is meant to be achieved.
- Post to:
del.icio.us
Digg
Newsvine
Nowpublic
Reddit
« Previous | Home | Next »