THE Federation of Small Businesses (FSB) has pledged to meet with Treasury officials to ensure support is provided for small ventures after the “disappointment” of the Budget.
The FSB said it was disappointed with the lack of automatic rate relief – which could have boosted small businesses by £400m – as well as with the increases in fuel and alcohol duty.
A poll of more than 300 firms in the North-East showed that almost 80 per cent thought the 2p rise in fuel duty would adversely impact on their business, with 71 per cent predicting it would cost an extra £30 a week.
Almost a third added that the 2p increase in alcohol duty would have a negative consequence, at a time when public houses are closing by the day.
Overall in the survey, 70 per cent said the Budget had not supported small business, with 38 per cent saying the impact would be “quite negative”.
Simon Hanson, FSB policy manager for the North-East, said: “Small businesses are the engine room of the North-East economy, but they have been choked by the Budget.”
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