Event industry sceptical about Darling's "last" budget

Figures from the world of events have attacked chancellor Alistair Darling's budget, which has been widely billed as preparatory for a hung parliament.

Event industry sceptical about Darling's "last" budget
Event industry sceptical about Darling's "last" budget

The budget includes provisions for small business start-ups through a temporary increase in small business rate relief.

A ‘time to pay' facility will allow businesses more time to pay tax bills and annual investment allowance has been doubled to £100,000, allowing more capital expenditure to be offset against taxable profits

The budget also included a commitment to reduce government departments' carbon emissions by at least 30% by 2020.

Above inflation increases in tax on alcohol and cigarettes are also present.

"I don't think Darling will be there after the next election whoever wins, so to be talking about things that won't happen until 2013 is fairly pointless," said UBM portfolio director Duncan Reid.

"Being realistic, we don't know who is going to win the next election, or what is going to happen, I just hope whoever does come in takes notice of the event industry and doesn't knock it because confidence is returning."

Moving Venue director Richard Beggs added: "My first reaction is that this budget is a wolf in sheep's clothing. With rises in VAT set to come about, I think this could have a big impact.

"A landlord friend of mine said that, after a recent increase in duty increases, pints will be up by around 10p. This affects the catering industry too. I believe businesses should not be accountable for bank negligence."

He added that he did support moves to clamp down on tax evasion.

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