Member Article

Poll reveals ?Wishy-Washy' Budget

Most small businesses will be negatively affected by increases in fuel and alcohol duty announced in last week’s Budget, a survey by the Federation of Small Businesses has revealed.

The poll of more than 300 firms showed that entrepreneurs heavily criticised the Chancellor’s Budget. Nearly 80% of small businesses estimated that the 2p rise in fuel duty would adversely impact their business and 71% estimated it would cost them up to £30 extra a week.

Almost 70% of small businesses said the Budget had not supported small businesses and over a third (38%) said it would ‘quite negatively’ affect their business.

Simon Hanson, FSB Policy Manager for the North East, said: “In what was the most crucial Budget in decades, the FSB is disappointed that small businesses were largely ignored and considers it a kick in the teeth that our North East members have not received the benefit of automatic rate relief which would have boosted small businesses to the tune of £400m.

Small businesses are the engine room of the North East economy, but they have been choked by the Budget with increases in fuel and alcohol duty incurring extra costs and with little to help small firms struggling with cashflow.

This survey shows that the Chancellor’s Budget should have gone much further in supporting small firms and we will be meeting with officials to ensure they do more to help small firms create and retain jobs and to survive and grow in these difficult times.“

This was posted in Bdaily's Members' News section by Ruth Mitchell .