Firms await Budget with "baited breath" - commercial mortgages

22 April 2009

Today's Budget announcement will be awaited by small and medium-sized enterprises (SMEs) with "baited breath", it has been stated.

Chancellor Alistair Darling's speech, due at 12:30 BST, will be "huge" for companies, according to Stephen Alambritis, a representative from the Federation of Small Businesses.

He called for SMEs to be offered automatic rate relief, something that may be welcomed by holders of commercial mortgages.

"What businesses will be looking for is some alleviation from the recession," Mr Alambritis claimed.

He added: "We want a sensible Budget with not too much razzmatazz," suggesting that a move should be made to ensure Bank of England base rates stay where they are in order to help firms.

It follows a report carried out in advance of the Budget by Lloyds TSB Commercial, surveying 500 businesses.

This discovered that SMEs are most worried about retaining customers and consumer demand during the recession.

Find out more on our commercial mortgages and how we can help you achieve your aims – enquire online.