March 25, 2011

FSB warns budget doesn’t go far enough on job creation

by Jan Harris

The Federation of Small Businesses (FSB) has welcomed some aspects of Wednesday’s budget but claims that planned new employment laws could hinder job creation.

The new laws are expected to significantly increase the cost of creating new jobs and employing people.

John Walker, national chairman of the FSB, said that failing to include existing businesses in the National Insurance holiday was a missed opportunity.

While the FSB welcomed the commitment to reducing fuel duty, the fuel duty stabiliser, and the introduction of Enterprise Zones, the lack of a scheme to help rural areas was criticised by organisation’s Chairman for Worcestershire, Judi Brazkiewicz.

Other budget measures to support SMEs include extending the rates relief holiday for small businesses until 2012 and increasing income tax relief on the Enterprise Investment Scheme from 20 to 30 per cent.

The sum that can be invested in the scheme, which supports “angel” investment in SMEs, has been doubled to £1 million.

There was a boost for entrepreneurs with the news that relief for capital gains tax has been doubled to £10 million.

Discuss this in the Internet Business forums

Story link: FSB warns budget doesn’t go far enough on job creation


Leave a Reply


Previous: «
Next: »

Visited 3919 times, 1 so far today

Tags: , , , ,

Posted in: All News,Business