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FSB: Businesses still hoping for Budget U-turn

Mar 11 2008

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The Federation of Small Businesses (FSB) says it is hoping that the chancellor will not follow-through with some of the changes proposed in October's pre-budget report.

It has been claimed that an increase in fuel duty of 2p per litre and regulations against 'income shifting' (where a couple split the income from a business between them to take full advantage of their tax allowances) will have a detrimental effect on small business.

According to FSB spokesman Andrew Cave, a recent FSB poll found that 93 per cent of owners of small to medium-sized businesses have lost confidence in the government over the last year.

Cave says the FSB is hoping to see changes in policy that will improve confidence in the government as a supporter of small firms.

He is particularly against legislation against income shifting, which he says targets those in small and family firms who are sharing the risks of a business.

'We think it's unjust that they should not be able to share in the profits,' he says.

It has been rumoured that Alastair Darling may put off the 2p fuel duty rise, according to news agency Reuters.

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