2014 Budget Supports Small Business Apprenticeships

For the second year running, there will be a 1p cut in duty on beer, and a duty freeze on cider and spirits. The alcohol duty escalator has also been abolished.

A revision of the forecast for economic growth has also been announced by the Office for Budget Responsibility, from 2.4 per cent to 2.7 per cent. However, the Budget Statement made in December, stating a cap in business rate rises at 2 per cent, remains unaltered.

George Osborne, Chancellor of the Exchequer said, “This is a budget for the makers, the doers and the savers. The economy is recovering faster than forecast, but the job is far from done.”