The Federation of Small Businesses (FSB) and the Confederation of British Industry (CBI) have called on Chancellor Philip Hammond to support Britain\u2019s small and medium-sized enterprises (SMEs) in the upcoming Autumn Budget announcements.<\/p>\n
Setting out their respective wish lists ahead of 22 November, the two groups have urged the Chancellor to pump more money into infrastructure and employee training, in a bid to help Britain\u2019s small businesses \u2018grow their way out of austerity\u2019.<\/p>\n
The two groups have also said that urgent reforms to recent business rate hikes must be considered.<\/p>\n
According to reports, the FSB and CBI have argued that switching business rate hikes from the retail prices index to the substantially lower consumer prices index would go a long way to ease the tax burden on small firms.<\/p>\n
The groups have also said that new investment should be exempt from the local levy.<\/p>\n
CBI Director General Carolyn Fairbairn, said: \u201cThe UK\u2019s tax system should help rather than hinder firms\u2019 competitiveness and underline the country\u2019s attractiveness as a fantastic place to do business.<\/p>\n
\u201cTo create stability, the Chancellor should set a high bar for tax changes, focusing on targeted measures that address the current economic challenges: supporting investment and productivity growth.<\/p>\n
\u201cMinisters need to build on the basics to get our economy in shape for the challenges ahead by committing to a pro-enterprise environment and maintaining a relentless focus on the drivers of productivity,\u201d she said.<\/p>\n
\u201cUltimately, building a more prosperous and fairer society requires a relentless commitment to pursuing productivity improvements.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Federation of Small Businesses (FSB) and the Confederation of British Industry (CBI) have called on Chancellor Philip Hammond to support Britain\u2019s small and medium-sized enterprises (SMEs) in the upcoming Autumn Budget announcements.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2076"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=2076"}],"version-history":[{"count":1,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2076\/revisions"}],"predecessor-version":[{"id":2077,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/2076\/revisions\/2077"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=2076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=2076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=2076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}