BCC: Budget needs to drive firms forward
Apr 21 2009
The British Chambers of Commerce (BCC) is calling for tomorrow's Budget to concentrate on reviving the wealth-creating private sector.
According to the group, immediate action needs to be taken by the government to restore business and consumer confidence.
In its Budget submission, the BCC calls for cash flow to be supported through short-term fiscal measures, such as a freeze in the minimum wage, a cut in the small companies' corporation tax rate and the reintroduction of empty property rate relief.
A government guarantee scheme for credit insurance to ease the pressure on small and medium-sized companies is also recommended, as is the creation of enterprise zones which feature tax exemptions and a simplified planning regime.
David Frost, director general of the BCC, comments: 'The chancellor's Budget is an opportunity for the government to prove its commitment to British business during this recession. It will be business that drives the economy forward, creating jobs and wealth. Their importance to the country cannot be ignored.'
Unite, the trade union, also released its Budget submission, which urges the government to focus on supporting the manufacturing sector.
Tony Woodley, joint general secretary of the organisation, says urgent and effective help is needed to avoid thousands of job losses and declines in the UK's manufacturing base.
There are currently no comments on this article
Comments