Chancellor launches Small Business Saturday

The video discusses concerns of small businesses regarding rising overheads, wages, and National Insurance contributions. It highlights changes in the budget, including increased employment allowance and extended business rates relief for retail, hospitality, and leisure sectors. The speaker emphasizes the importance of these changes for small businesses and the need for economic stability. An impact assessment for the hospitality sector is also mentioned.

What change in the budget helps the smallest businesses reduce or eliminate National Insurance payments?

• Increase in VAT

• Introduction of a new business grant

• Decrease in corporate tax

• Increase in employment allowance

What sector benefits from the extended business rates relief?

• Technology

• Agriculture

• Manufacturing

• Retail, hospitality, and leisure

What was the Chancellor's main goal in addressing the public finances?

• Increase public spending

• Reduce taxes for large corporations

• Bring stability back to the economy

• Expand the welfare system

What is the expected outcome of the budget according to the Office of Budget Responsibility?

• Growth in the economy

• Reduction in public services

• Increase in unemployment

• Decrease in employment

What financial challenge did the Chancellor face upon taking office?

• A decrease in national debt

• A surplus in the public finances

• A 22 billion, 10 LB black hole

• An increase in foreign investments