Big and bold action needed from new PM on the cost of doing business crisis

Added by Love Business East Midlands | 5 September 2022

UPDATED: 7 September 2022

Responding to the announcement that Liz Truss has won the Conservative Party leadership contest, Jennifer Thomas of the Federation of Small Businesses (FSB), said:

“Congratulations to Liz Truss, whose campaign included small businesses, the self employed and unleashing enterprise.

“The challenge now is to deliver action that is big and bold enough to match the scale of the crisis threatening the existence of many small firms, and the jobs, livelihoods and communities which depend upon them.

“Small firms, not protected by an energy price cap, are seeing bills soaring out of control. This is at a time of sky-high taxes, rampant inflation and supply chain disruption, creating a toxic mix which must be addressed urgently.

“Small businesses are crying out for a comprehensive response which cuts taxes, limits spiralling bills, and provides direct cash support for the smallest businesses.

“During the leadership campaign we were pleased that Liz Truss listened to our calls to reverse the recent hike in National Insurance and to look at lifting more small firms out of business rates.

“As she prepares her full package of emergency plans, we are ready and willing to work with the new Prime Minister and her team to protect the UK’s 5.5 million small businesses and the 16 million jobs within them, in communities in all parts of the UK.”

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