The Federation of Small Businesses has welcomed some changes announced in the 2011 Budget, but believes it didn’t go far enough.
The Federation of Small Businesses (FSB) has welcomed changes announced in the 2011 Budget that will provide a more stable environment for businesses, but believes it didn’t go far enough.
The lobbying organisation has praised the government’s decision to scrap the 1p increase in fuel duty. It also welcomes the fuel duty stabiliser, an initiative it has been calling for.
The announcement of 21 Enterprise Zones to be created across the UK is also highlighted as a positive step.
However, the FSB is disappointed that the government has not extended its National Insurance Contributions (NICs) holiday to existing businesses.
Also, while the organisation welcomes moves to reduce the main rate of corporation tax over the next three years, it is disappointed that there was no mention of how the small business rate of 21 per cent would be affected.
FSB national chairman John Walker says, ‘The Chancellor has said that this Budget would be a “Budget for Growth” and in part that is what we have – however, there are vital components missing for small firms to create jobs.’