As part of Capital of Culture, Viennese Balls will take place at St George’s Hall on next month.  There is a considerable amount of interest from the press and media in the event and the organisers are looking for city businesses would be interested in taking advantage of this interest by planning any appropriately themed events to coincide with the balls.  Two examples of the sort of activities they’re thinking along the lines of are as follows: 

• City restaurants offering a Viennese themed menu or deal for people going to the ball  (e.g. perhaps even specific offers for guests to enjoy a meal prior to the ball or general offers to the public to come out and celebrate the occasion)
• City hairdressers/beauty salons making offers/promotions for ball guests to get dressed up for the occasion at a special rate.  There was also talk of seeing if we can find a businesses who might be interested in offering an on-site beauty service in St George’s Hall for guests to have their hair/make-up touched up during the ball?

 There will be two balls - one on Saturday 12 April at 7.00pm and another on Sunday 13 April at 2.00pm.  They will each last approximately 3 hours. The organisers are willing to discuss publicising the offer in conjunction with publicity for the event.   If any other business has a suggestion for an appropriate event they’d like to run to celebrate the balls, the organisers would be interested to hear them too. 

For more details or to make an offer contact Colin Bordley, Tourism Liaison Officer on 0151 233 5407

The NWDA is working on a feature for the Daily Telegraph including details of special family offers from attractions, accommodation and other tourism related businesses around Merseyside.   

Here’s a summary of yesterday’s budget breaking down all the key points. 

Personal and Business Taxation 

Many of yesterday’s announcements relating to business taxation were announced by Gordon Brown in his last Budget Statement in 2007.  Major changes to personal and business tax system: 

·          The basic rate of income tax is reduced from 22% to 20% from April 2008; and the starting rate of 10% is removed except for savings income - although those with non-savings income of more than £2320 over their personal allowance will pay 20% on savings income;

·          The main rate of corporation tax will reduce to 28% from April 2008; ·          The small companies’ rate of corporation tax will rise to 21% from April 2008;

·          The rate of relief for the SME R&D tax credit will increase to 175% from April 2008;

·          The taxable turnover threshold for VAT registration has increased from £64,000 to £67,000;

·          The capital gains tax regime is being overhauled and replaced with a flat rate 18% and an Entrepreneurs’ Relief of £1m from April 2008.  Other important announcements concerning taxation: 

·          The proposed introduction of the income shifting legislation has been postponed until April 2009 to permit further consultation and provide clarity for businesses and their advisers;

·          The proposed Annual Investment Allowance of £50,000 is introduced for all businesses from April 2008.  

 Access to Finance 

The Budget 2008 was an opportunity to respond to the global credit squeeze impacting on financial markets. The Government has made the following announcements to improve access to finance for small and medium sized firms: 

·          A temporary 20% increase in the funds available through the Small Firms Loan Guarantee (SFLG), and extending the eligibility to firms over five years old;

·          An increase in the investor limit for the Enterprise Investment Scheme (EIS) from £400,000 to £500,000, and the launch of a consultation over simplification of the scheme;

·          An increase in the individual option grant limit for the Enterprise Management Incentive (EMI) scheme from £100,000 to £120,000;

·          A new capital fund to promote female entrepreneurship of £12.5m.  

 Regulation  

Regulatory budgets were first recommended by the Better Regulation task force’s report “Less is more”. They are departmental caps on total regulatory burden. It is an initiative that BCC supported following the publication of “less is more”. 

  Transport           

·          Budget 2008 announced an invitation to the private sector to run a number of projects looking into road charging based on charging by time of day, distance travelled and route chosen. Funds will be made available to ensure that these projects help answer the questions on feasibility, cost effectiveness, privacy and the impact of real financial incentives on driver behaviour;

 ·          For motorways, the Chancellor reiterated the Department for Transport’s announcement to open up hard shoulder running for locking in the benefits of extra capacity, such as lanes reserved for car-sharers or those willing to pay a toll;           

 Energy

·          Budget 2008 announces reforms to the North Sea fiscal regime. These include changes to the treatment of Corporation Tax losses created by decommissioning, extension of 100 per cent capital allowances to long-life assets and mid-life decommissioning, and reforms to Petroleum Revenue Tax.  

 Environment 

·          Budget 2008 confirms that main road fuel duty rates will rise by 1.84 pence per litre on 1 April 2009, and announces that rates will then also increase by 0.5 pence per litre above indexation on 1 April 2010. Budget 2008 also announces that the planned fuel duty increase of 2 pence per litre in April 2008 will now take place on 1 October 2008. The Government also confirmed that rebated oils duty increases will also be deferred until 1 October 2008, when they will rise in proportion to main road fuel duties. These rates will also rise by the same proportion as main road fuel duties in the subsequent two years.

·          The Chancellor also announced that he will require energy suppliers to provide smart meters for medium and large businesses within the next five years to improve information on energy consumption and help support the energy services market.