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FSB criticises Brown's corporation tax announcement
22/03/2007
Yesterday's Budget was no different to the chancellor's other ten, according to the Federation of Small Businesses' (FSB's) national chairman Carol Undy.
Ms Undy describes chancellor Gordon Brown's actions as giving with one hand but taking with the other regarding small businesses.
She also criticises Mr Brown's move to increase corporation tax on small firms, while reducing it for larger companies.
"[After] some welcome initiatives for our members [Mr Brown] throws it all away with a tax hike aimed at small businesses," said Ms Undy.
"Small businesses employ 58 per cent of the private sector workforce - over 12 million people - and the increase in their tax rate fails to acknowledge their contribution."
Increasing road tax and larger commercial vehicles will also impact upon small businesses which use cars and vans, she adds.
However, the FSB does welcome the chancellor's move to reduce the business rate relief on empty commercial property, stating that it will ensure better use of commercial premises.
Ms Undy describes chancellor Gordon Brown's actions as giving with one hand but taking with the other regarding small businesses.
She also criticises Mr Brown's move to increase corporation tax on small firms, while reducing it for larger companies.
"[After] some welcome initiatives for our members [Mr Brown] throws it all away with a tax hike aimed at small businesses," said Ms Undy.
"Small businesses employ 58 per cent of the private sector workforce - over 12 million people - and the increase in their tax rate fails to acknowledge their contribution."
Increasing road tax and larger commercial vehicles will also impact upon small businesses which use cars and vans, she adds.
However, the FSB does welcome the chancellor's move to reduce the business rate relief on empty commercial property, stating that it will ensure better use of commercial premises.