The Federation of Small Businesses (FSB) has called on Chancellor Philip Hammond to address historic under-investment in local roads and deliver smaller scale projects as part of his first autumn statement, due to take place next week
The group also demanded clarity on value for money domestic assessments for EU-funded projects supporting small business growth, until UK leaves the EU. The third main plank of the FSB’s submission to the process is that the Tax burden to be minimised: it wants to see a delay of the mandatory quarterly tax reporting, a realignment of the business tax system to incentivise growth, as well as employment and investment and include specific help for the self-employed
‘Government has a major role to play’
“Smaller businesses are coping with huge challenges and an uncertain economic outlook,” said FSB chair Mike Cherry. “For us to create growth and jobs, and drive productivity, we want to see the Chancellor deliver an Autumn Statement that provides much-needed support for small businesses. Over half of our members say they are looking to grow in the next 12 months. To realise these ambitions, small firms need a business environment that allows them to operate efficiently and effectively. The new Government has a major role to play.
“Improvements to our national infrastructure are critical if the UK is to remain competitive in the global economy. Delivery of major infrastructure projects such as Hinkley Point and Heathrow are of course important, but it is also clear that small businesses across the UK have long suffered from underinvestment in their local road network. Focused spending in this area, together with the delivery of smaller scale improvement and maintenance projects and a push for majority-UK small business supply chains and procurement, will boost connectivity and growth.”