The Federation of Small Businesses (FSB) has called for Chancellor Jeremy Hunt to use this week’s Autumn Statement to announce measures to help boost growth, prosperity and jobs in the UK.
The business group stated that the reduction in the size of the UK economy means that government growth measures are ‘more vital than ever’ amidst ‘extremely challenging’ trading conditions for small firms.
It also warned that fewer small businesses mean lower growth, lower employment and lost tax revenues for the government.
Martin McTague, National Chair of the FSB, said: ‘Without growth measures, [the] Autumn Statement could be about balancing the government’s books on the backs of small businesses – an approach that will simply not work, with so many already teetering on the edge.
‘The Chancellor and Prime Minister must include measures to kickstart the economy and get it growing again to stem the loss of small businesses and give them an operating environment that will allow them to get through a tough winter, and then flourish in the spring.’
The Chancellor will present the 2022 Autumn Statement on 17 November. We will be keeping you up to date on the day’s announcements.
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