Event planners express mixed feelings on 2016 budget

Event planners have reacted positively to corporation tax cuts in the 2016 budget, but fear there may be long-term repercussions.

Following Chancellor George Osborne's announcement of a 17% corporation tax cut and other benefits for smaller businesses, Simon Hughes, vice chair of Business Visits and Events Partnership (BVEP), said there was plenty for event planners to be celebrating in the short term.

"There seems to be a lot of focus on small to medium businesses, which is good news for the industry," he explained. "However, there doesn’t seem to be a particularly robust long-term plan in place. The economic ask on the deficit reduction is absolutely huge and in the current economic circumstances, I’m a little concerned about the future."

Randle Stonier, CEO and founder of AddingValue echoed these thoughts. "I suppose the tax cuts are a good thing for small businesses but I’m not 100% convinced they’ll see the light of day. There is a lot of concern and controversy surrounding the cuts to disability living allowance."

He added that while the cuts to corporation tax seem like a positive step on face value, it could have a negative impact on some of the most disadvantaged people in society. "Supporting small and developing businesses is very important, as it opens up new employment opportunities and economic growth, but it has to be done in the right way."

In terms of travel and transport, the reaction has been largely positive, with the Guild of Travel Management Companies praising the infrastructure announcments on Crossrail2 and HS3 rail.

Paul Wait, chief executive, GTMC said: "We welcome the Chancellor’s announcements on infrastructure around Crossrail 2 and in particular HS3 rail. Increasing rail capacity in the North will assist business travellers by reducing journey times and will improve connectivity."

However, he said the body was disappointed by the Government’s lack of action in the aviation sector. "There is still no decision on the biggest infrastructure decision of them all – namely the provision of additional airport capacity in the South East of England. If this Government is truly "for the builders" as the Chancellor claims, we need to see a commitment to new runway capacity at Heathrow by this summer at the latest. British businesses cannot afford further delay on this issue."

More:

Less than half of event planners confident about security

More than 70% of event planners want to stay in the EU

The big debate: Will the new Tory government support the events industry?

• For more breaking news, in-depth features and case studies, sign up to C&IT Magazine's daily Newstracker here

Have you registered with us yet?

Register now to enjoy more articles
and free email bulletins.

Register now
Already registered?
Sign in
The future of event feedback

The future of event feedback

A look at how new technology is changing the nature of feedback for event planners.

SevenEvents hires new project manager

SevenEvents hires new project manager

Jade Davies joins from Touch Associates and her new role will include developing client relationships.

Cievents VP talks US market trends, challenges and opportunities

Cievents VP talks US market trends, challenges and opportunities

Alison Howlett, vice president of live events, talks about creating business opportunities, US trends and popular destinations.

Case study: PPA Festival at Tobacco Dock

Case study: PPA Festival at Tobacco Dock

The Professional Publishers Association held an education festival in May 2018 with guest speakers including politicians and actors.

New director and event coordinator for Pure

New director and event coordinator for Pure

Agency promotes client services director and hires event coordinator to strengthen the team.

Loganair to take over cancelled Flybmi routes

Loganair to take over cancelled Flybmi routes

Glasgow-based company Loganair has stepped in start flying five of Flybmi's routes from next month.

How to increase your sustainability credentials

How to increase your sustainability credentials

Sustainability can be achieved with simple actions, says Elizabeth Thomas from the International Corporate Governance Network.

London venues hosted 37% more events in 2018

London venues hosted 37% more events in 2018

Year-on-year increase from Unique Venues of London shows strong demand for events in the capital.

Why you should design human-centric experiences

Why you should design human-centric experiences

At EMEC19 in The Hague, Kim Myhre of MCI Experience gave an insightful talk on design-thinking in events.

New event producer for HGA

New event producer for HGA

Becky Jones-Williams has previously worked at Event Concept and will work for clients in a range of sectors.

LATEST JOBS