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Thursday 5th December saw the Chancellor George Osborne deliver his fourth Autumn Statement to the Commons. Following a week’s worth of predications and the usual leaks to the media, to somewhat subdued anticipation the Chancellor used his opportunity at the despatch box to formally outline the Government’s plans for Britain’s economic future.
Lending to SMEs, or rather the lack of it, is one of the biggest impediments to a healthy UK economic recovery. Up until now, the Government has been relying on the methadone treatments of QE and the Funding for Lending Scheme (which, to date, has only served to boost the housing bubble) to keep our low-interest-rate-drug-addled economy going.
Given the political pressure over recent weeks and months it would be surprising if the Chancellor did not make an announcement aimed at tackling the increasing rates burden on businesses in his Autumn Statement this week.
I have just two wishes: something old and something new. Something new would be that The Chancellor could allow investors to include loan-based crowdfunding investments in their annual ISA allowance It is now possible to include unlisted AIM shares in your ISA allowance, and the Treasury is understood to be generally supportive of increasing the range of qualifying investments, potentially including crowdfunding, into ISAs.
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