Small firms rue taxation relief 'missed opportunity'

Date: 22nd April 2009

Small businesses have slammed the government for supposedly ignoring the issue of small business rate relief.

The Federation of Small Businesses (FSB) claims today's (April 22nd) budget speech would have been the perfect opportunity to hand much-needed taxation relief to smaller companies.

Despite this disappointment, the FSB expressed approval regarding Chancellor Alistair Darling's £250 million scheme to create new jobs for those aged under 25.

The group also welcomed proposals to reform the banking sector, which could potentially lead to a relaxation in lending restrictions.

National chairman of the FSB, John Wright, said: "A government funded wage subsidy for short-time working would have been a real help but was totally ignored.

"Small businesses will also be disappointed not to have received the benefit of automatic rate relief."

Among other measures introduced at today's address were a new 50 per cent taxation bracket and reduced pension relief for individuals earning more than £150,000 per annum.