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Budget 2015: Small Firms Association Reaction

Published on Oct 14 2014 5:25 PM in Retail

Budget 2015: Small Firms Association Reaction

The Small Firms Association (SFA) has given a 'broad welcome' to the measures introduced in Budget 2015, with SFA chairman AJ Noonan saying that the Budget will "support small businesses in improving access to debt and equity finance, and in boosting job creation by making it more attractive to work and increasing disposable income."

Noonan welcomed the reforms to the top rate of tax, marginal tax bands and USC, as they will assist small businesses with "continuing on their path to growth by strengthening the incentive to work and giving our workers extra disposable income."

However, he criticised the government's plan to extend the 3% additional USC charge paid at the top rate by self-employed workers. "In a still high unemployment economy, we should be doing everything possible to incentivise self-employment and small business start-ups," Noonan added.

“The government in Budget 2015 have introduced some good measures to support small businesses, including the maintenance of the 9% tourism & hospitality VAT rate, not increasing excise duties, improvements to the R&D tax credit, FED, home renovation fund, Seed-Capital Scheme and the corporation tax relief for start-ups.

"However, in Budget 2016, we challenge them to be more radical in promoting growth.”

© 2014 - Checkout Magazine by Stephen Wynne-Jones

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