In the Spring Budget 2021, on 3 March 2021, the Chancellor of the Exchequer, the Rt Hon Rishi Sunak MP, announced several key announcements focusing on SMEs across the UK, including the ‘Build Back Better’ plan for growth and the ‘Help to Grow: Digital’ scheme, providing SMEs free, impartial, advice, and vouchers for ‘productivity enhancing software’.
Senior Associate at Baker & McKenzie LLP, Jason Raeburn, provides commentary.
(Lexis PSL / TMT Bulletin News)
If you want to find out more about some of the other key take always from this year's Spring Budget you can read our full guide here.
Raeburn comments that the specifics of the Budget are likely to have a relatively modest impact on the sector as a whole, with some specific industries/players as those who are likely to see any real benefit in the short term. Tax reliefs for R&D intensive businesses ‘are still to play for’ and ‘any seismic impact on investment in the TMT sector remains yet to be seen'.