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SMEs challenge chancellor over tax planning and red tape

29/06/2007  10:27:37

 


 

Small firms want the new chancellor of the exchequer to implement tax mitigation measures and ease the complexities of red tape, according to a recent survey.

The study, by the Forum of Private Business (FPB), revealed that small businesses felt these were the measures that would most help their growth and future success.

Some 43 per cent of respondents felt that tax reduction was their top priority.

A further 29 per cent suggested a reduction in administrative and legal red tape would be of benefit to them.

As reported by Bcentral.co.uk, Rebecca Leavers, the FPBs research manager, said: "There are more than four million smaller companies in the UK, employing over half the private sector workforce.

"They are an integral part of the economy and whoever succeeds Gordon Brown as chancellor must put them at the forefront of policy."

Following these comments, it was announced that Alistair Darling would step into Mr Browns former role as chancellor.

The survey also revealed that small firms were dissatisfied with the way Mr Brown had handled its interests so far.

Around 70 per cent of small businesses felt he hadnt run the economy in a way that was beneficial to them.

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