The Great Debate UK

Budget not as generous as it first appears

-Julie Meyer is CEO of Ariadne Capital, a technology investment and advisory firm backing entrepreneurs in media, moble Internet and communications. The opinions expressed are her own.-

I recently spoke at an IBM event alongside former chancellor Norman Lamont about the issues that face entrepreneurs and how we can turbo-charge these value creators to help rebuild the country’s wealth.

As I digest Wednesday’s budget and what it holds for entrepreneurs, I’m thinking back to that night and it convinced me not to be too impressed with what at first looks like it could be a generous budget.

At a simplistic level, it splits down into taxes and funding. It doesn’t get talked about much, possibly because it’s so dull, but employers’ National Insurance is one of the most onerous taxes on business. It’s ironic that entrepreneurs are taxed for paying salaries when you think about it.