We welcome today’s statement and we are encouraged by the Chancellors’ acknowledgement that small businesses need more help. We accept that bold actions are needed to boost the economy and we hope we are on the right road to helping small firms.
The Chancellor has listened to many of our members’ concerns, and has put forward proposals to address these issues - notably around capital allowances, more encouragement for investors to place funding in small businesses, and cancelling the 3p rise in fuel duty.
We now eagerly await further details on the small business bank which we have long seen playing a central role in opening up finance for small firms.
Britain may face further cuts and tax rises even after the next elections, the Institute for Fiscal Studies warned today.
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