Live updates

  1. National

How the Chancellor's Budget plans to help business

  • New Employment Allowance will take the first £2,000 off the employer National Insurance bill of every company in the country
  • Around 450,000 small businesses - one third of all employers - will pay no employer National Insurance at all after introduction of Employment Allowance in April next year
  • Small firms will be given help through Government procurement budgets, growth vouchers and controls on regulators' charges
  • The Capital Gains Tax holiday will be extended
  • Corporation tax to be reduced by a further 1% to 20% in April 2015
  • Small company and main rates of corporation tax merged at 20p

Lord Adonis says region needs higher skill levels

Lord Adonis says the region needs much higher skill levels Credit: ITV Tyne Tees

The former Transport Secretary, Lord Adonis, says the region needs much higher skill levels.

The Labour peer, who is reviewing the economic future of the North East, was talking to business and local authority leaders.

Lord Adonis addresses business leaders Credit: ITV Tyne Tees

At a conference at the Baltic in Gateshead, he called for more apprenticeships and higher standards in schools to address the skills shortage.

Lord Adonis also said stronger partnerships between councils and the business community was vital for a successful future and new jobs.



Middlesbrough businesses want compensation over station upgrade

Business owners operating inside Middlesbrough bus station say they should be given compensation because a period of renovations to the site has reduced the number of customers passing through.

The station is currently undergoing an upgrade, which means buses will being diverted for up the six weeks. Business owners say takings have fallen by up to 70% and Middlesbrough council should reduce their rent throughout the work.

The council says it has made clear that shops inside the station remain open and is on regular contact with owners on the upgrade progress.

Business leader calls for more financial help

Ammar Mirza, Secretary-General of Asian Business Connections, said today the Queen's speech doesn't go far enough to help businesses succeed.

Ammar Mirza Credit: ITV

The government has promised to cut red tape and make Britain more business friendly.

But he wants more financial help in the form of cuts to VAT and employers' National Insurance Contributions.

Load more updates