71% of small businesses not convinced by Blair's defence of increase in tax
30 Mar 2007
In response to Prime Minister's Questions today (29 March) where Prime Minister Tony Blair defended the increase in the Small Companies Rate from 19 - 22 per cent, Sally Low, Director of External Affairs and Policy at the British Chambers of Commerce (BCC) said:
"The Prime Minister's defence of the increase in the Small Companies Rate failed to address the concern of SME's who make up the majority of the UK business community.
"A post-Budget survey by Populus undertaken on behalf of the British Chambers of Commerce has revealed that 71% of UK businesses think the rise will harm their business. 1
"This shows how worrying the Chancellor's actions are for SME's across the country . The BCC believes that the rise will make life even more difficult for small businesses.
"Many will struggle to absorb the increased cost of this burden which is likely to have a negative impact on their growth."
1. When asked the question: "Taking everything in today’s Budget into account, what kind of impact will the rise in the small companies’ rate of corporation tax from 19% to 22% by 2009 have on your business?
Respondents replied: Highly negative 31% negative Somewhat negative 40% Broadly neutral 15% Not applicable 14%
Populus interviewed 110 members of the British Chambers of Commerce online on 21st and 22nd March 2007 after the Chancellor of the Exchequer, Gordon Brown gave his 11th, and probably final Budget speech. Populus is a member of the British Polling Council and abides by its rules. For more details go to www.populuslimited.com.
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