Managers demand tax breaks for skills investment

Date: 21st April 2009

Small business managers believe the government should provide taxation breaks for skills investment, it has been found.

Statistics published by the Chartered Management Institute (CMI) show that 85 per cent of companies believe support should be given for training employees on their payroll.

The survey also showed that a tenth of enterprise managers felt that the recession may have a positive impact on their business, which suggested that positivity still has a major presence in UK commerce.

Ruth Spellman, chief executive of the CMI, said: "The government needs to take decisive action to 'invest in recovery'.

"Managers strongly favour tax breaks as a vehicle to stimulate investment and recovery ... [and] we know that skills will be critical constraint as soon as the economy picks up."

An investigation by the Forum of Private Business earlier this month showed that UK firms had seen a slight improvement in credit conditions in April.