47881_Budget_2015_Web_Accessible

Creating a dynamic economy1.192 Creating the right conditions to start and grow a business, across all sectors and regions,is vital to ensuring a prosperous and balanced economy. This Budget announces a package ofmeasures to unlock the potential of the sharing economy and to help UK businesses to succeeddomestically and to expand into new markets overseas.Support for the sharing economy1.193 The government wants to ensure that Britain is the global centre for the sharingeconomy, enabling individuals and businesses to make the most of their assets, resources,time and skills through a range of online platforms. This Budget therefore announces acomprehensive package of measures that will break down barriers, create opportunitiesfor sharing, and unlock the potential of this dynamic and growing area. Building on therecommendations of the independent review of the sharing economy, the government will: 95••make it easier for individuals to sub-let a room through its intention to legislateto prevent the use of clauses in private fixed-term residential tenancy agreementsthat expressly rule out sub-letting or otherwise sharing space on a short-termbasis, and consider extending this prohibition to statutory periodic tenancies••enable government employees to use sharing economy solutions to bookaccommodation and transport when travelling on official business, where thisrepresents value for money••encourage Local Authorities to use their business rates discretionary relief powersto support the sharing economy, including shared workspaces and makerspaces1.194 The sharing economy also presents an opportunity to drive local growth and deliverlocal public services more innovatively and efficiently. To demonstrate the benefits of thesharing economy the government will launch two pilots in Leeds City Region andGreater Manchester in 2015-16, to trial local sharing initiatives in the areas of sharedtransport, shared public space, and health and social care.1.195 These and other initiatives are set out in the government’s response to the independentreview of the sharing economy. 96Improving access to finance and marketsExports1.196 The government is committed to improving economic ties with major emerging markets.Budget 2015 continues progress in this area and announces a near doubling offunding for UK Trade and Investment (UKTI) activities in China, including a focus on theadvanced manufacturing, transport, financial services, healthcare and life sciences sectors, toensure that opportunities for British businesses to trade with China are maximised.1.197 Budget 2015 also announces funding for an ambitious series of trademissions focused on regional strengths, and to ensure that the UK makes the most of theInternational Festival for Business in Liverpool.Access to finance1.198 On 12 March 2015, the Chancellor of the Exchequer announced the UK’s intention tobecome the first major Western economy to be a prospective founding member of the Asian95‘Unlocking the sharing economy: an independent review’, www.gov.uk, November 201496‘Independent Review of the sharing economy: Government response’, Department for Business, Innovation andSkills, March 2015Budget 201551