Business group makes pre-Second Budget submission

The Federation of Small Businesses (FSB) has announced their recommendations for the Second Budget 2015, calling on the Chancellor George Osborne to secure small business growth in the coming year.

John Allan, National Chairman for the FSB, said: ‘The UK’s small businesses are reporting record high levels of confidence. Unemployment is continuing to drop, UK wage growth is at a four year high and there are encouraging indications that productivity is finally on the rise.

‘The Budget is an early opportunity to provide a boost to the increasing positive sentiment, and for the Chancellor to demonstrate his pro-enterprise credentials by again backing small business to deliver the growth and jobs the economy needs.’

Included in the FSB’s recommendations are calls to:

Tax reform – Widen the scope of reform to radically simplify the system and improve incentives to encourage investment.

Raising skills – Support the creation of business-led apprentices, and promote apprenticeships as an equally valued alternative to academic study amongst schools and young people.

Exports – Continue the Government’s ambition to raise UK exports to £1 trillion by 2020.

Access to finance – Increase competition in the business banking market, improve credit data sharing, and consider incentives such as credit ‘passports’.

Construction – Encourage small construction firms back into the house building industry to enable growth outside of the South East.

Universities – Raise the Higher Education Innovation Funding by £90 million to a total of £250 million.

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