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Small businesses call for assistance in upcoming budget

Published on 8 Mar 2010 under category: legal

Small businesses have once again called on the government to give them a much-needed break by scrapping plans for corporate and personal tax rises.

As the chancellor gears up to make his final budget before the upcoming general election, the Forum of Private Businesses (FPB) has argued that many smaller enterprises are continuing to struggle against the government's economic measures.

In addition to a lack of access to affordable finance, small businesses would be hit hard by the plans currently in place to raise employer National Insurance (NI) contribution levels, with the FPB having argued that those companies with ten or fewer workers should be able to enjoy a lower rate of NI contributions.

Furthermore, the organisation's chief executive Phil Orford has called on Alistair Darling to scrap corporation tax rise plans and instead see the valuable contribution smaller businesses can make to the UK's economic recovery over the coming year, the Manchester Evening News has reported.

At the start of the month, the Federation of Small Businesses (FSB) reported that its own research had found that 75 per cent of small enterprises believe that they could grow much faster if the current tax regime was made easier to comprehend.

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