CBI calls for Budget support for mid-market firms

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CBI calls for Budget support for mid-market firms

Simon Quicke

Those hoping that the Budget in a couple of weeks will benefit those SMEs trying to grow this year have been given some positive indications from the Chancellor.

Speaking over the weekend at a Conservative Party conference in Cardiff George Osborne said that the budget would be pro-growth and pro-enterprise. Some of the Sunday papers carried hints that he would also be sympathethic to those looking for help with fuel duty.

Osborne is also coming under fire from some of the major business lobby groups which have set out their wish lists. The CBI has been one of the most vocal and has again today issued a call for more support for mid-market firms.

The business group argues that the growth that is so desperately needed to drive a private firm recovery has to be supported with a Budget that will protect and encourage firms with incentives and tax breaks.

John Cridland, CBI Director-General, said that there had to be constructive measures from the government to boost exports, encourage investment and to create jobs.

The CBI is proposing a corporate bond for mid-market companies to enable them to raise capital as well as doing more to free up the flow of credit to SMEs.

Others that have already put together a wish list for the Budget include the British Retail Consortium, which is worried that jobs will be lost on the high street unless more is done to reduce the tax burden.

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