FSB advises Chancellor to use Spring Statement to 'help small businesses'

The Federation of Small Businesses (FSB) has urged Chancellor Philip Hammond to use the upcoming Spring Statement to 'help small firms'.

07 Mar 2019

The Federation of Small Businesses (FSB) has urged Chancellor Philip Hammond to use the upcoming Spring Statement to 'help small firms'.

According to the FSB's latest Small Business Index (SBI), confidence amongst small firms 'remained negative' in the first quarter of 2019, at -5.0. This represents the third consecutive negative reading. Mike Cherry, National Chairman of the FSB, stated that the SBI reading 'must serve as a wake-up call for the Treasury'.

The business group has called for the government to use the Spring Statement to help reverse the slump in business optimism.

Mr Cherry commented: 'Even in the wake of the crash, when the economy was well and truly on the ropes, we didn't see negativity take hold like it has now.

'Small firms still have no idea what regulatory framework they'll be working to in three-and-a-half weeks' time. Not only does the political stalemate surrounding Brexit make it impossible to plan, it has also distracted from the domestic policy agenda. Next week is the Chancellor's chance to change this.'

The FSB is urging the Chancellor to tackle the UK's 'late payment crisis', and to commit to a one-year 'safe harbour' approach to Making Tax Digital (MTD) fines. The initiative will come into effect from 1 April 2019.

The Chancellor is set to deliver the Spring Statement on Wednesday 13 March.

Quick Links

Home | Contact us | Accessibility | Disclaimer | Help | Site map |

© 2019 Blue Spire Limited. All rights reserved.

We use cookies on this website, you can find more information about cookies here.

Contact Chichester Office

Tel: +44 (0)1243 781234
Fax: +44 (0)1243 791770
Email: chichester@bluespiregroup.com


Contact Brighton Office

Tel: +44 (0)1273 739533
Fax: +44 (0)1273 732844
Email: brighton@bluespiregroup.com

Chichester Address
Cawley Priory, South Pallant, Chichester, West Sussex PO19 1SY

Brighton Address
5th Floor Intergen House, 65-67 Western Road, Hove, East Sussex BN3 2JQ

Blue Spire Limited is Registered to carry out audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales C004152645. Professional indemnity insurance is provided by Royal & Sun Alliance Insurance Plc 9th Floor, One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD and its territorial coverage is worldwide (excluding United States/Canada).
Blue Spire Financial Planning Limited is authorised and regulated by the Financial Conduct Authority. FSA register https://www.fca.org.uk/register reference 566257. This guidance and/or advice contained within this website is subject to the UK regulatory regime, and is therefore targeted at customers based in the UK