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The Budget—IPG members react
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Posted by IPG

Phil Turner, Meze Publishing

"Overall, the Budget seems to be helpful to small businesses, which hasn’t always been the case lately. It’s good to see the further cut to corporation tax—this rewards small businesses that are run well and making money. I also think that cracking down on tax avoidance is key—it frustrates small business owners who play by the rules when large firms avoid paying tax by basing themselves offshore. Rate relief for small businesses will definitely help us as we are buying a new property at the moment. And personally, as a cookbook producer and father, I'm delighted to see the introduction of the sugar tax."

Di Page and Julia Morris, Critical Publishing

“As a publisher of materials for teachers and trainee teachers, the biggest impact on our business is likely to be the plans for all state schools in England to become academies. It will finally end the role of local authorities as providers of education, and academies can opt out of the national curriculum. This will have longer term implications for the content and marketing of our books. The Chancellor also reaffirmed his commitment to public sector spending cuts of £3.5bn by 2020, which has implications for other areas of our publishing, particularly in the areas of social work and further education.”

Tim Williams, Edward Elgar Publishing

"The Budget looks like relatively good news for independent publishers who are reinvesting their profits to grow their businesses.—especially as we compete with large corporates who are able to reduce their taxes through complex international structures. Unfortunately I've just missed out on the special ISA for the under-40s."

Jim Smith, Globe Law & Business and IPG Patron

"Overall this year's budget appears to be business friendly, with small businesses benefitting most. I'm sure the announcement on increases to business rate relief and lower corporation tax rates will be welcomed by many IPG members, and will perhaps help to offset potential recent cost increases through the National Living Wage and auto-enrolment pensions. For those seeking investment, the changes to Capital Gains Tax Entrepreneurs’ Relief, which are being extended to benefit external investors, might make it easier to attract outside funding."

Ken Rhodes, NBN International

"I happened to be able to listen to the Budget live on radio, and to hear George Osborne I wished I could move to the country he was describing: it sounded like paradise. Critically positive about membership of the European Union and with a few potential benefits to the lower-paid in our wider industry. Many publishers are increasingly internationally balanced, and the global economy is often the bigger issue when looking for growth."

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