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FPB calls for SME taxes to be reduced

Date Added: 16/03/2011  

Companies which patent products or technology should be asked to pay lower taxes in order to encourage investment which can later fuel growth in the economy.

This is one of the pre-Budget recommendations being made by the Forum of Private Business, which stated that the coalition government needs to do more to help small to medium-sized enterprises.

The forum's head of campaigns Jane Bennett stated that a lot of company bosses currently feel "aggrieved" at the levels of tax they are being forced to pay.

"We believe this year's Budget provides an opportunity for the chancellor to level the playing field through some long-overdue changes to the tax system," she said.

Ms Bennett explained that the forum is also calling for the decision to be made to cap business rates, with a view to removing this tax in the future.

George Osborne will give his Budget speech to parliament next Wednesday (March 23rd 2011).

Posted by Julie Cutts 

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