Cheltenham: 01242 260066 | Bristol: 0117 933 5710 | Email accountants@mitchells.org

Flat growth 'should be a warning to government' ahead of Budget, states FSB

13 Feb 2020

The Federation of Small Businesses (FSB) has stated that flat economic growth should serve as a wake-up call to the government ahead of the 2020 Budget.

The FSB said that UK firms have been 'in the doldrums', and that business confidence was in negative territory for the entirety of 2019.

Data published recently by the Office for National Statistics (ONS) revealed that GDP was flat in the fourth quarter of 2019. The ONS noted that GDP growth was 'particularly volatile' throughout 2019, reflecting alterations to the UK's planned exit dates from the EU.

The FSB stated that negative confidence levels have caused small businesses to hold back on investment, exports and hiring new employees.

'Small firms right across the country will be looking to the upcoming Budget as a chance to turn things around and create a pro-business environment that encourages growth and success,' said Mike Cherry, National Chairman of the FSB.

'This government must put the measures in place that small firms need to thrive: a pro-business free trade agreement with the EU and nations beyond; an immigration system that works for firms all sizes; and an end to the debilitating impact of late payments, which almost doubled to £20 billion last year.

'The Budget next month is a chance for the Chancellor to illustrate his support for small firms that he committed to during the General Election campaign.'

Try a site search Tax returns, budget, pension, rates and allowances...

Contact details

Cheltenham Office: 01242 260066
Bristol Office: 0117 933 5710

Company Registration No: 4161638
Company Registered in England and Wales.
Company details
Mitchell Glanville Limited
Registered Address: 41 Rodney Road, Cheltenham, Gloucestershire GL50 1HX

Bristol Office: The Garden Suite, 23 Westfield Park, Redland, Bristol BS6 6LT
Mitchell Glanville Limited regulated by the Institute of Chartered Accountants in England and Wales
Mitchell Glanville (Bristol) Limited regulated by the Association of Chartered Certified Accountants

© 2020 Mitchells Chartered Accountants. All rights reserved. We use cookies on this website, you can find more information about cookies here.