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Sunak must cut taxes to save small businesses, says FSB

Sunak must cut taxes to save small businesses, says FSB

The Federation for Small Businesses (FSB) has called on Rishi Sunak to save small businesses from going under. The trade body wants the Chancellor to reverse the National Insurance increase and cut VAT after business closures rose 23% in Q1. The FSB, which represents 5.5m businesses, also wants the threshold for business rates relief to be lifted from a rateable value of £12,000 to £25,000, saying this would provide relief for 200,000 businesses. FSB vice-chair Tina McKenzie said lower taxes will put extra money in the hands of businesses, arguing: “We are on the cusp of the UK slipping into recession, we've got to take some action now.” Noting that small businesses employ more than 60% of UK workers, she said: “If you don't support that and you don't help those small businesses, no matter what you do with big businesses it is not going to make a difference.”

Read more: Daily Mail

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