"Wednesday's tax-raising Budget shows the peril of a continuing economic doom loop, we must not be in the same place again next year, with more tax hikes to balance the books due to a lack of economic growth. The tax burden at a record high is the cost of failure to get growth and trim spending. Hikes to dividend tax mean the Government continues to make investing in your own business one of the least tax-friendly things you can do with your money."
"Plans to charge employers for supporting pension savings are a bad idea. The business rates measures will not help small firms and high streets nearly enough. We need the Government to follow this Budget through with serious, pro-growth measures that restore the confidence small businesses need to grow, invest and hire. While the Chancellor has taken important steps today on SME training and the new jobs guarantee scheme, ministers must now bring forward pro-business, pro-growth policies."
The tax-raising Budget raises taxes and risks entrenching an economic doom loop if growth does not improve. The tax burden at a record high reflects failure to deliver growth and reduce spending. Higher dividend taxes make investing in one's own business less tax-friendly, discouraging entrepreneurship. Plans to charge employers for pension support are counterproductive. Business rates measures will not sufficiently help small firms and high streets. Immediate pro-growth measures are required to restore small business confidence, including SME training, the jobs guarantee, Employment Rights Bill fixes, small business energy market reform, and support for new business creation.
Read at London Business News | Londonlovesbusiness.com
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