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SMEs want Budget to deliver on labour and tax policy

Mar 17 2011

UK SMEs want the Budget next week to prioritise the provision of skilled labour and transparent tax policy

Small and medium sized enterprises (SMEs) in the UK want to see the Chancellor’s Budget next week address access to skilled labour and tax regulation in order to drive growth.

Some 57 per cent of businesses believe Osborne should prioritise businesses’ need for skilled staff over concerns about immigration levels in the UK, according to TheCityUK’s survey of 523 companies.

Just under half of small businesses (46 per cent) want the Budget to deliver a stable, consistent, predictable and transparent approach to tax policy, while 37 per cent of respondents believe there should be a reduction in corporation tax to a more competitive level.

Some 46 per cent of companies want to see the number of regulations reduced when the Chancellor delivers his Budget on 23 March in order to remove some of the red tape that businesses currently face.

Chris Cummings, CEO of TheCityUK, which promotes the UK’s financial services industry, comments, ‘TheCityUK’s poll sends a clear message to the Chancellor as he puts the finishing touches to the most important budget in a generation for UK small business.’

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