Economy

BUDGET 2012: FSB welcomes Osborne’s measures but highlights ‘missing link’

The Federation of Small Businesses (FSB) has welcomed the Chancellor’s Budget speech, but remains concerned about some weaknesses in the case for business.

 

In a statement, national chairman of FSB, John Walker, said that whilst the federation welcomes measures designed to cut red tape as well as proposals to simplify the tax system for small businesses, petrol prices “remain a major concern”.

“We would have liked some further action on reducing the level of fuel duty to help struggling small firms,” he added. “We asked for a Budget with long-term measures to help to instil confidence, rather than a barrage of micro-measures that have a limited impact on the ground.”

Walker also reasserted the FSB’s support for the Government’s deficit reduction plan, and praised the “fiscally neutral” nature of the Budget.  

He also highlighted a specific area for which the body believes there needs to be provision: “We are disappointed that there were no plans to look into setting up a Small Business Administration – a department to champion small firms at the heart of Government with a cabinet level minister. This is the missing link to ensuring that all initiatives have the maximum impact for small firms.”

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