The Federation of Small Businesses (FSB) is calling on the Government to provide more detail on employment costs, following the Budget announcement.
Yesterday, 3 March, Chancellor Rishi Sunak, set out a £65 billion three-point plan to provide jobs and support for business. He announced that the coronavirus job retention scheme (CJRS) will be extended until the end of September, along with more support for the self-employed.
Sunak also announced a new business recovery loan scheme to replace the existing Government-guaranteed schemes, with income tax and national insurance rates also frozen until 2026.
Mike Cherry, national chairman of the FSB, said that though the Budget will help many with the final push through until September, there is not enough support being offered to aid job creation and help people return to work:
“A lot of small firms and sole traders that start to work in the summer will not be paid a penny until the autumn. The Government must reinvigorate its mission to end our late payment crisis, a mission which has been eclipsed for too long.
“Support measures should continually evolve. The challenge over the summer, and leading up to the autumn statement, will be to switch focus from survival to growth. We look forward to working with policymakers on that progression.”
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