Small businesses set to be offered new tax breaks

Chancellor George Osborne is set to announce a new wave of policies in Wednesday's (December 5th) Autumn Statement designed to assist smaller businesses, it has been revealed.

As the government strives to stimulate growth, Mr Osborne is expected to announce tax incentives for shale gas operations, capital investment reliefs and export finance guarantees.

What's more, he is also set to introduce more attractive tax breaks for investors in start-up companies.

Speaking ahead of the Autumn Statement, Terry Scuoler, Chief Executive of the manufacturers organisation the EEF, said: "The Chancellor must send a strong signal to industry that it is getting a firm grip on the levers of growth and get business investment going again.

"The Autumn Statement should prioritise measures to support investment through the tax system and to increase competition in business banking."

This comes shortly after Chris Cummings, the Chief Executive of TheCityUK, a financial services industry body, suggested that the small business community will lead the country's return to growth.

Posted by Emily Smith

Last updated: 3rd December 2012