Responding to today’s launch of the Scottish Conservative Party’s General Election manifesto, Scotland Policy Chair of the Federation of Small Businesses (FSB), Andrew McRae, said:
“It was good to hear the Prime Minister talk publicly about the significant contribution made to the national economy by those who set up their own businesses and the importance of supporting them as they take the risk of doing so.
“The recent increase in the VAT threshold to £90,000 was an important step in removing a barrier to growth for many small firms who hold back from expanding – or even turn down business – for fear of crossing the VAT threshold and all the extra costs and administration that entails. We would like to see the threshold raised further to £100,000, so are pleased to see the commitment to keep it under review and to explore options to smooth the cliff edge firms face when they hit it.
“As an organisation founded 50 years ago to campaign against unfair hikes in taxes for the self-employed, we obviously welcome the pledge to scrap self-employed National Insurance Contributions within the next five years. We would, however, like to see a similar pro-enterprise tax offer to support the other major group of entrepreneurs – the one million directors of small limited companies who are a large, hard-working and job-creating part of the UK’s small business community.”
ENDS
For further information contact:
- Euan McGrory – [email protected] - 07734 509227
Notes to Editors
- You can read the FSB’s 2024 election manifesto here: FSB Manifesto for Small Businesses and the Self-Employed.
- The Federation of Small Businesses (FSB) is a non-profit, non-party-political organisation that offers its members a wide range of vital business services, including advice, financial expertise, support and a powerful voice heard in governments. Founded in 1974, FSB celebrates its 50th anniversary in 2024. More information is available at www.fsb.org.uk.
- Micro and small businesses comprise almost all enterprises in Scotland (98%), employ 900,000 people and turn over more than £82bn.