Autumn Statement 2015: Business groups react to apprenticeship levy, infrastructure spending boost

George Osborne has just delivered the first Autumn Statement and Spending Review of his career as Chancellor of a Conservative government, announcing a surprise U-turn on tax credits and a hefty apprenticeship levy on businesses.

Here’s a round-up of the reaction from the business sector:

Simon Walker, Institute of Directors:

“The major business tax announcement of this Autumn Statement was the Apprenticeship Levy, which can only be described as a new payroll tax. At 0.5% of payroll it will be a big new cost for many companies, including medium-sized ones. We are very concerned by the Government’s assumption that a quarter of the money collected will be spent on just administering the levy. Firms have been promised they will get back more than they put in, but it’s not clear how this will happen if so much is being lost in bureaucracy.” For the full article click here 

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