What was overlooked in the 2012 Budget?

We covered the 2012 Budget exhaustively yesterday (a record number of posts for a single day, in fact!), including a straw poll of freelancers’ Budget wishlists. The 2012 Budget was somewhat unique in that all the major introductions had been leaked or pre-announced, so George Osborne actually delivering the Budget became something of a formality. Now the dust has settled we thought it’d be interesting to take a look at the rumoured measures that didn’t�make the cut. Unfortunately, many of these omissions are policies that would have directly benefited freelancers and contractors. Overhauled late payment legislation In the days and weeks before the Budget Conservative ministers had been vocal in their criticism of Labour’s “failed” late payment legislation, and seemingly suggested it was destined for the scrapheap come March 21st. However there was nary a mention of late payments in George Osborne’s announcement, so the�Late Payment of Commercial Debs (Interest) Act�lives to accrue interest another day. Small Business Administration Although it never seemed particularly likely, this suggestion for a US-style dedicated small business administration from the Federation of Small Businesses warrants a mention purely because we think it’s a good idea. The measure would give freelancers, contractors and small businesses [...]

Source: http://www.freelanceadvisor.co.uk/money/what-was-overlooked-in-the-2012-budget/

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