Small firms fear tax hikes in emergency Budget


Small firms fear tax hikes in emergency Budget

Simon Quicke

With the emergency budget just a few days away the fears over the prospect of tax hikes are having an impact on small business confidence.

Talk from both the Prime Minister David Cameron and the Chancellor George Osborne about the need for cuts and for us all to accept that life may never be quite the same again have had an impact on optimism among businesses.

According to the latest monthly survey of its members the Forum of Private Business has discovered that there are fears that taxes on SMEs will go up making a situation that has already worsened this year even more bleak.

The FPB has highlighted concerns that the emergency budget on 22 June will contain some bad news for small firms around the issues of capital gains tax and national insurance contributions.

"All eyes are on the budget for the kind of policies needed to help small businesses grow," said the FPB head of policy Matt Goodman.

"We know that public spending will be cut to help get the deficit down, but there will be knock on effects to public sector contract opportunities and business support measures, so it is important that the coalition government gets it right - particularly in the area of tax," he added.

Join the conversation Comment



    Contribute to the conversation

    All fields are required. Comments will appear at the bottom of the article.