Inaction from the Chancellor is not enough for the UK’s 5.7 million small businesses and self-employed who are being squeezed by cost pressures and facing a new cost crunch about to hit in April.
We’re a month away from employment costs going up, business rates going up and energy bills going up.
The Chancellor missed the chance today to address the costs stack about to hit small firms.
The downgrading of the growth forecast for this year will be no surprise to small businesses, where cost burdens have already started reducing growth plans, cashflow and job creation in our local communities.
Given the heightened global tensions of recent days, if there is another energy price crisis the Government must stand ready to bring forward a package of help for small business energy consumers, akin to during the last huge price spike.
As the April costs stack bites, the Chancellor must give assurance that she’ll take decisive action to ease the taxes and costs imperilling small firms and the self-employed, and in turn imperilling the jobs, opportunities and local prosperity they could otherwise bring.
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