Britain's budget 2011

Britain looking to climb back among the worlds top countries

“Britain is open for business”. This is the view of Chancellor George Osborne, who last week presented the latest Budget for Britain.

In this budget, the Chancellor revealed that Corporation tax is going to be cut by 2 pence, from 28 to 26 pence, and will be cut by a further 3 pence by 2014! This will mean that Britain will have the lowest corporation tax out of the G-7, which includes countries USA, Canada, France, Italy, Germany and Japan.

Osborne also revealed that 21 new ‘Enterprise Zones’ are going to be set up to help the recovery from the Economic Crisis, with 2 been set up in the West Midlands! The zones are going to be set up next year, offering super fast broadband and a five-year exemption from business rates.

“Let it be heard clearly around the world, from Shanghai to Seattle and Stuttgart to Sao Paolo, Britain is open for Business” declared Osborne.

In a budget that has been largely welcomed, both in the West Midlands and across Britain by business’ small and large, the Chancellor has stated that Britain now have to catch up to other European countries.

"Britain has lost ground in the world’s economy and needs to catch up. In the last decade, other nations have reduced their business tax rates, removed barriers to enterprise, improved education systems, reformed welfare and increased exports. Sadly the reverse has happened in Britain. We gambled on a debt-fuelled model of growth that failed. With the state now accounting for almost half of all income, we simply cannot to go on like this. Britain has to earn its way in the modern world. "

Osborne continued, “ "We want the words, 'Made in Britain', 'Created in Britain', 'Designed in Britain', 'Invented in Britain'."

This budget is really going to help business small and large now grow, and could even see companies that started in Britain return from overseas in what seems to be the Government looking at the long term view, something Labour didn’t seem to do.

The Government are also trying to help the unemployed, with 40,000 apprenticeship places been created in Britain and 40,000 construction jobs nationwide which will be supported by the Chancellor's scheme to boost first-time home buyers.

"Our country has to compete if we are going to create growth and jobs. Britain has fallen behind many others in the world in the last decade” stated Osborne.

This budget is going to come as a welcome relief to people all over Britain, who are now clearly seeing the government do something about the economic crisis that they have suffered through over the past few years.