Treasury urged to consider ‘Brexit vouchers’ to help with no-deal Brexit
Chancellor of the Exchequer Sajid Javid outside 10 Downing Street. Photograph: Aaron Chown/PA Wire. - Credit: PA
The Federation of Small Businesses is urging the chancellor to consider 'Brexit vouchers' to help businesses to deal with a potential no-deal Brexit.
Speaking to PA, the federation's policy and advocacy chairman Martin McTague said the UK needs to "get serious" about planning and preparing the economy.
The FSB is calling for an emergency budget including a "blanket cut" to employer national insurance contributions. They say a reduction from 13.8% to 12% would help small employers manage a surge in staffing costs.
The group also recommends an uprating of the £3,000 employment allowance following a decision to target the relief at the small firms that need it most. Other recommendations include reducing the 17.5% VAT rate.
For small businesses that could be affected by the prospect of a no-deal Brexit, such as those that trade exclusively with one European market, the FSB is calling for "Brexit vouchers" worth up to £3,000 to assist with planning for the future, accessing new markets, retraining staff and retooling.
You may also want to watch:
McTague said: "With the UK set to leave the EU on 31 October, we need an emergency budget before Brexit happens. It's time for this government to get serious about planning and preparing the economy.
"Advertising campaigns and small-scale measures focused on a few exporters won't cut it. Cash is king for small firms, so we urgently need measures that will allow them to shore up balance sheets, keep hiring, and help them prepare for an uncertain future.
Most Read
- 1 The bigot we should have called out on day one
- 2 The greatest failure of government in our lifetime
- 3 Nigel Farage launches new party in Scotland to promote 'positive case for the Union'
- 4 Matt Hancock praises free school meals before being reminded he voted against them
- 5 The worryingly familiar signs for Britain's vaccine roll-out
- 6 Brexiteer MP ridiculed after calling for free movement of goods between GB and NI
- 7 Brexit changes lead to exodus of Brits from Spain, UK nationals claim
- 8 Brexiteer says he'd never have voted for Brexit 'if we knew we'd lose our jobs'
- 9 Fears government could scrap workers' rights in post-Brexit overhaul of labour laws
- 10 Katie Hopkins joins UKIP in time for leadership contest
"We've been dogged by disappointing economic growth for years now. That's why we need interventions on the domestic front.
"Making business rates fairer, supporting those struggling with employment costs and investing in infrastructure would give many small firms a new lease of life.
"The government would do well to remember that the economy only thrives when small businesses do."
Become a Supporter
The New European is proud of its journalism and we hope you are proud of it too. We believe our voice is important - both in representing the pro-EU perspective and also to help rebalance the right wing extremes of much of the UK national press. If you value what we are doing, you can help us by making a contribution to the cost of our journalism.