Federation of Small Business asks for help in Autumn Statement
As George Osborne saddles up to make his Autumn Statement – a taster if you will of what’s to come in the 2013 budget – the Federation of Small Business has asked the Coalition government to do more to help start-ups.
Although the personal allowance for income tax has risen and the upper tax rate has been dropped – in contrast to the scene over in France – the FSB says this is not enough. They believe that the tax system needs to be further simplified, which could ensure would-be entrepreneurs are not deterred from creating jobs, and that firms with lower turnovers should be able to enjoy so-called ‘cash-based accounting’. This could also solve a rising problem in the UK when it comes to underemployment.
The Federation of Small Business also added that even though steps have been taken for banks to lend more to young and fledgling companies, the support in place at the moment isn’t enough.
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