Spring Budget comment from Founder of Primas Law Liverpool

Date posted:
Fri 08 March 2024

Adam Kerr, Managing Partner and Founder of Primas Law, said:

“With a general election on the horizon set against the backdrop of a recession, many businesses will have been looking to the Chancellor for some economic dynamism in the Spring Budget,” explains Adam Kerr, Managing Partner at Primas Law. “Those people will come away from today’s budget disappointed.

There are some interesting targeted schemes but overall this budget seems like a damp squib.

Business insolvencies reached a 30 year high in January this year and studies show many businesses struggle to access proper funding; whether to survive or grow. The general feeling from the clients and referrers we speak to remains one of uncertainty, and there seems to be little in the Budget to change that sense.

The political impact of this budget will also be interesting. There was very little in terms of headline-grabbing electioneering in this budget. That, of itself, seems a little surprising given that this is the last ‘full’ budget before a general election. I suspect that Conservative MPs hoping for re-election will not thank the Chancellor for today’s budget as it gives them very little to campaign on.”