SIMPLER taxes, an extended national insurance contributions (NICs) holiday and a shake-up of the banking system to promote competition will all help small firms grow, the Federation of Small Businesses (FSB) claimed today, pushing for its members to get help in the Autumn Statement next week.
The lobby group’s submission to the chancellor also called for a new state agency to back small businesses, as well as an internet service provider to be created to roll out broadband across the whole country to give better service even in those areas where broadband provision is not profitable.
It claims extending the regional NIC holiday to micro-firms across the country would create 45,000 jobs and add £1.3bn to GDP by making it cheaper to hire new staff. The group also said cancelling the 3p hike in fuel duty due in January would “capitalise on emerging confidence”.
The submission also calls for air passenger duty to be scrapped to boost tourism.