Responding to the announcement of the 2018 Budget Peter Holbrook, Chief Executive of Social Enterprise UK said:
“Champagne corks will be popping at the prospect of £9bn in tax cuts for business which the government has planned over the next five years. But what are we getting for this? Higher dividends for shareholders and bigger bonus cheques for CEOs?
The Chancellor had an opportunity to back social enterprises which share growth by paying their staff fairly and reinvesting their profits back into their communities. Unfortunately, he decided to rely on old fashioned and failed economic ideas.
If we want to build an economy that truly works for everyone, we need to back a different type of business. There is little in this Budget to give people confidence that we are heading towards anything other than simply more of the same.”