FOR IMMEDIATE RELEASE
Chancellor’s Budget backs small business
Responding to Chancellor George Osborne’s Budget 2016 speech, Mike Cherry, Policy Director at the Federation of Small Businesses, said:
“In a Budget constrained by both the need to reduce the deficit and the economic outlook, the Chancellor has listened to our calls for the tax system to be made simpler for small businesses and the self-employed and taken important action on business rates.
“In particular, FSB members have campaigned hard to make Small Business Rates Relief permanent, and expand it – and the Chancellor has heeded our calls, taking many small firms out of the system altogether. The combined measures announced on business rates – the single biggest tax cut in today’s Budget - will be viewed by our members as a welcome and important step on the road to fundamental reform. In addition, online retailers will benefit from steps to secure a level playing field for smaller online businesses on VAT.
“Freezing fuel duty will be universally welcomed by small businesses right across the country.
“Furthermore, the new devolution deals, alongside increased investment in roads, rail, and flood defences, should give a much needed boost to the UK’s infrastructure. Altogether, these measures should help to drive productivity and boost small business confidence levels, which have faltered recently in the face of a number of domestic policy and global economic challenges.”
Sonia Sequeira: 020 7592 8108 / 077 1148 6352 firstname.lastname@example.org
Rosie Saban: 020 7592 8113 / 075 9506 7068 email@example.com
Jack Neill-Hall: 020 7592 8116 / 075 2580 1773 firstname.lastname@example.org
For regional FSB contacts please go to www.fsb.org.uk/regions
Area Administrator - North & Midlands
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.
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