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Government urged to show commitment to small firms
The Forum of Private Business (FPB) has called on the government to support small firms cope with the economic downturn.
In its submission to the government's Pre-Budget report, the FPB called for the Treasury to provide businesses with better opportunities to lending, a reduction in regulation and a series of tax reforms in order to help them survive a "long and deep recession in 2009".
Phil Orford, the FPB's chief executive, said: "The FPB, which has set up an economic downturn member panel in order to gauge the views of its members and communicate them to decision-makers, wants the government to stick by its commitment to monitor the banks’ lending to small businesses.
"We have submitted a petition to the 10 Downing Street website to this end, and, along with tackling the burden of tax and regulation, this forms a central component of our submission to the Government’s Pre-Budget Report.
"It is important that the correct measures are put in place to support both small firms and the economy as a whole."
The FPB is backing schemes to ease VAT payments for small firms, and arguing for more to be able to benefit from the Cash Accounting Scheme (CAS), which allows businesses to pay VAT when they have been paid, rather than on unpaid invoices.
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