MP CAMPAIGNS TO SAFEGUARD SMALL BUSINESSES
October 17, 2008 1:09 PM
In support of the Think Smallest First Campaign Nick Harvey, MP for North Devon, says: "In rural areas such as North Devon the constant refrain is 'local produce is best' so it is vital that we all do what we can to support and protect our local suppliers and tradesmen.
"It is now essential that the Government provides greater support for small businesses: they need greater tax concessions. Smaller firms face a higher tax burden, excessive red tape and problems with late payment all of which are not conducive to them thriving in the current economic environment.
"The Entrepreneur's Relief rate is not enough and the increase in Corporation Tax for small firms is unwelcome. Smaller companies are being penalised in favour of big business.
"Also strengthening of legislation on late payment so that smaller firms are paid interest after a period of 30 days would greatly help."
Notes for Editors
In April 2009, Corporation Tax for small firms will increase from 19% to 22%, whilst the higher rate, paid by bigger businesses, is being cut from 30% to 28%.
The Forum for Private Business is running the Think Smallest First Campaign seeking a reduction in taxation for smaller firms, red tape and raising awareness of the impact of late payment. See: http://www.fpb.org/page/520
For further information contact:
Chris Conway
Media and Public Relations Assistant
Forum of Private Business (FPB)
Direct line: 01565 626016 chris.conway@fpb.org
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