Budget 2013 - FSB reveals wishlist

With the Budget set to be announced by Chancellor George Osborne in just over 2 weeks time (Wednesday 20th March), Skipton Business Finance will be building up to the day with a series of blogs. First up, we look at three of the Federation of Small Business’ (FSB) policy changes that it wants to come from the Budget:

  • Business tax simplification

With some businesses paying more in rates than they do in rent, the FSB has called for a small business rate relief to be made a permanent measure in England. It also wants a change in the way business rates are calculated from RPI to CPI, in line with other areas of government policy.

  • Cancellation of fuel duty rise

The FSB wants the planned 3p rise in fuel duty, due to be implemented in September 2013, to be scrapped. With fuel prices set to reach record highs in Spring 2013, a further rise in costs could further hinder many small businesses and SMEs. It has also called for a thorough review of fuel prices and motoring taxes.

  • Extension of National Insurance Contribution holiday

Currently start-up businesses benefit from a National Insurance Contributions holiday. The FSB has called for this to be extended to all companies with four or less members of staff. It is estimated this could create 45,000 new jobs and add more than £1bn into the UK’s stagnating economy. Chairman of the FSB Merseyside, West Cheshire and Wigan branch, John Allan, said: “These pro-small business and pro-growth policies should be placed at the heart of this year’s Budget.