This short survey looked specifically at social enterprise reactions to the March 2021 UK government budget announcements.
- Restart Grants and Community Ownership Fund look to be the most useful of new schemes announced in the Budget for the social enterprise sector.
- Furlough and business rates relief extensions are also of value to around a third of the sector.
- 19% of social enterprises might use social investment tax relief (SITR) scheme in the next two years, but 7% would want to use the SITR after the two-year deadline has passed – meaning that 40% of social enterprises interested in SITR could be excluded.
- The Budget does not address inter-relations between economic, social and environmental recovery. There is significant potential for schemes such as the investment ‘super-deduction’ tax relief to be more inclusive of social enterprise, to the benefit of the sector and the wider economy.