UNDER EMBARGO UNTIL 08 July 2015 14:15

FSB Comment

Issue date: Wednesday 08 July 2015

Budget is a potentially challenging, mixed bag for business, says FSB

The Chancellor is right to continue to focus on the budget deficit reduction and has made some tough decisions to reach his goals. For businesses, the Budget contained a mixed bag of proposals, some of which will prove challenging to our members.

John Allen, National Chairman, Federation of Small Businesses, said:
“There was further support to reduce corporation tax, fix the annual investment allowance and boost regional growth, where investment in roads will be particularly well received. We agree with the focus on productivity but need to see the details to raise skills through the apprenticeship levy on large firms. Planning reforms are also critical to raising productivity and again we look forward to seeing the proposals on Friday.

“However, even though offset by a welcome increase in the employment allowance, some will find the new National Living Wage challenging. Changes to the treatment of dividends will also affect many of our members.”

Media contacts:
Sonia Sequeira: 020 7592 8108 / 07711 486 352 sonia.sequeira@fsb.org.uk
Jack Neill-Hall: 020 7592 8116 / 07525 801 773 jack.neillhall@fsb.org.uk

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The Federation of Small Businesses is the UK's largest campaigning pressure group promoting and protecting the interests of the self-employed and owners of small firms. Formed in 1974, it now has around 200,000 members across 33 regions and 188 branches.