By Max Clarke

Next Wednesday will see the 2011 Budget, which Chancellor Osborne has labelled a budget of reform, aimed at removing restrictions to enterprise in the form of reduced taxation and red tape.

Thomas Coles, managing director, database design specialists MSM Software, discusses his predictions for the 2011 budget with Fresh Business Thinking.

“The catastrophic events in Japan will overshadow whatever is announced in the budget for UK. The potential impact of the Japanese economic situation is likely to cause stagnation (for example in the insurance market) for months to come, and there is nothing that the Government can do about it. As a result of this, the business environment for the next year will be at most, benign. Perhaps at least the inflationary threat will decrease and the Bank of England will hold off interest rate rises until the Autumn.

“What I’m hoping for from the government is action to tackle the regulatory burden put on businesses, in particular around reforming employment tribunals. Without this kind of reform, the Government will stifle growth.”

Click here for tax experts MacIntyre Hudson’s full analysis of their predictions and recommendations for the 2011 Budget.