As the company formation and SME sector wait with baited breath for the Chancellor’s expected budget, retailers across the UK have come together to urge the government to retract planned tax increases and reduce public spending instead.
After last year’s budget, which saw the government announce plans to raise VAT and increase National Insurance, a large proportion of the SME sector felt their needs were being ignored and their voice inadequately represented within the government.
Subsequently, this year the SME sector – seeking better representation – have looked to the British Retail Consortium for support.
The BRC has devised a list defining all the ways in which the Budget can help support the SME sector through economic difficulty. At the top of the list, was making it easier for small businesses to employ more staff by retracting the planned rise in national insurance, not increasing minimum wage to much this year and keeping any planned increases in business rates to a minimum.
Robert Marsden, a small business owner and contributor to the BRC list comments; “The SME sector accepts that an element of tax increase is inevitable in next month’s budget. It is vital that the government understands that, as the UK’s largest employer, the SME sector needs to be support during this time of delicate economic recovery.”