National Outsourcing Association welcome commitment to enterprise in the 2011 Budget

The National Outsourcing Association have responded to the 2011 Budget, in particular welcoming the commitment made to boosting enterprise in the country.

In the Budget, Chancellor of the Exchequer George Osborne announced changes to improve the generosity, the simplicity and the reach of the Enterprise Investment Scheme (EIS).

From April 2011, income tax relief will increase from 20 per cent to 30 per cent and next year the amount that any individual can invest through the EIS will be doubled. Also, increase the size of company that can quality for investment and raise the limit on the amount that can be invested in a company by 400 per cent.

Andy Rogers and Bharat Vagadia, the National Outsourcing Association said: "New measures, including an increase in Income Tax relief on the Enterprise Investment Scheme, and the introduction of a new Enterprise Capital Growth Fund which will provide more than £37.5m of equity finance to SMEs, are clearly aimed at easing the burden on SMEs."

"Indeed, the budget announcement should ensure that the pool of smaller suppliers able to take a slice of the public sector pie will become even deeper, which perhaps signals a commitment from the government towards a rise in multi-sourcing."

Further information:
National Outsourcing Association