Budget includes business measures - commercial mortgages

24 April 2009

This year's Budget includes measures that may be of use to those with commercial mortgages.

During his parliamentary address this week, chancellor Alistair Darling pledged to boost the cash flow of companies having difficulties in the wake of the economic downturn.

He revealed that a top-up trade credit insurance programme is being introduced to offer extra support to loss-making firms.

This will enable them to claim back taxes made on profits over the last three years in a bid to improve their financial situation.

Mr Darling said that the move will see in excess of 100,000 businesses having their losses "wiped out", with average repayments of approximately £4,000 being given to enterprises through the scheme.

Commenting on the Budget, the Federation of Small Businesses welcomed measures aimed at getting unemployed under-25s into work or training.

However, the organisation expressed its disappointment that more help was not given to firms, such as automatic rate relief.

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