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FSB in Scotland on UK Budget PDF Print E-mail
Wednesday, 08 July 2015

The Chancellor George Osborne has delivered his administration’s first budget.

Andy Willox, the FSB’s Scottish policy convenor, said: “Today’s dramatic budget radically changes the environment in which Scottish small businesses will operate over the next five years. Many small employers will be examining their books over the weeks to come to understand what the changes to business taxation and minimum wages will mean to their operations.
 
On roads: “Moves to link vehicle excise duty with spending on roads seems like a sensible shift in gear. Many of Scotland’s local and national roads need upgrade or repair. Decision-makers in Scotland may want to consider this link and allocate any consequentials appropriately.
 
On the annual investment allowance: “Increasing the annual investment allowance is a welcome change that should encourage more firms to plough additional money into their operations and premises.”
 
On fuel duty: “Small firms, especially those in rural areas are disproportionately hit by the cost of fuels. Continuing to freeze fuel duty will be welcomed by small firm still struggling with the cost of fuel at the pump.”
 
On the national living wage:  “The understandable governmental drive to boost wages must be accompanied by extra help to make the numbers work in the sectors where we know pay and margins are a problem. Efforts to reduce the tax burden to lessen the impact on small businesses are welcome. However, next year’s national minimum wage increase will be difficult for employers bound into long-term contracts with big business or the public sector. We have been supportive of gradual increases in the National Minimum Wage in recent years, to reflect the improvement in the economy. However, we believe annual increases should be set according to the recommendations of the independent Low Pay Commission.
 
“We know that low pay isn’t a big business or small business problem but an issue for certain sectors such as retail and care. We’ll need to see governments in Edinburgh and London support firms making any transition – ensuring that rogue operators and foreign competitors don’t get the better of them.”

(Source - FSB Press Release)
 
 

 
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