Small businesses call for simplification of taxes and regulation in new budget

Julian Harris
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SMALL businesses want the government to deliver a more simple and predictable tax system, according to new research.

Almost half – 46 per cent – specifically called for “stable, consistent, predictable and transparent” tax policy, ahead of chancellor George Osborne’s budget next week.

Meanwhile, 37 per cent called for cuts in corporation tax, “to a level competitive with the G7 average.”

Over one in 10 – 11 per cent – think new regulation should only be permitted if it replaces existing legislation, according to The City UK, a group which promotes financial services.

“To deliver on the government’s promise of an export-led economic recovery, companies need unfettered access to a skilled workforce from the UK and elsewhere and tax and regulation which are consistent with global and regional standards,” said its CEO, Chris Cummings.

Over half of respondents – 57 per cent – believe the government should prioritise business requirements for staff when weighing up immigration policy, although 36 per cent disagreed.

There was some good news for the coalition government from a separate poll, by Ipsos MORI, which revealed that Labour are seen as more to blame for public spending cuts.

However, seven in 10 respondents thought it was better to slow down the fiscal consolidation, the survey showed.