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Press Release

FSB reaction to the Pre-Budget Report

5 December 2005

The Federation of Small Businesses has today set out its initial reaction to the Chancellors Pre-Budget statement as outlined today in the House of Commons.

Wilfred Mitchell FSB Policy Chairman made the following comments on today’s pre-budget report:

In general:
“We welcome the small business measures and the simplification they will offer, especially the corresponding increase in the level of capital allowances that can be claimed by small businesses in Northern Ireland.

“We are pleased that all small businesses, irrespective of legal status, will now qualify for a more generous capital allowance regime.

“It was interesting to note that the Chancellor admitted this has been a tough year and acknowledged that new jobs were coming primarily from small businesses across the UK.

“Given this, we would have wanted a more significant lifting of the burden in the administration of the staff payroll.”

On VAT:
“We welcome the more flexible VAT payment schemes for small businesses with the new increased turnover level of £1.3 million in the UK. This is a step in the right direction, but more needs to be done because VAT administration is still one of the most burdensome aspects of running a small business.

On the freeze in fuel duties:
“For hard-pressed businesses with a concentration on fuel costs, this freeze is some comfort.”

On education and training:
“The high priority given to this area is good news, as is the extension of the national employment training programme, which will benefit businesses in Northern Ireland”

On red tape:
“We believe more should have been said to emphasize the government’s programme on cutting back red tape”

“However, we are pleased with the attack on EU regulations and especially the proposal to apply the competitiveness test on new and existing legislation coming from Brussels.

“We hope the Chancellor’s encouraging words will be converted into actions and small businesses will see less regulation and administration from the Government and the EU.”



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Federation of Small Businesses

Federation of Small Businesses

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