Nearly a third of SMEs want tax cut to boost spending survey finds

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Nearly a third of businesses in East Anglia believe a cut in taxes is vital to encourage growth the Close Brothers Business Barometer found.

Mike Randall, CEO of Close Brother Asset Finance, said: “Business owners are looking for measures that will stimulate growth and drive the economy forward.

“Trading conditions remain very tough for small firms, but they are resilient.

“In fact, our barometer shows that nearly a quarter of SMEs in East Anglia have plans for expansion in the next 12 months.”

The survery found 31 per cent of SME owners want to see VAT cut and 28 per cent want a cit in income tax to boost the cash in people’s pockets and increase spending. ,