Around 80% of UK employers feel that this year’s Budget will be bad for their business, according to a survey conducted by Employment Law specialists Citation.
Online PR News – 31-March-2010 – – Around 80% of UK employers feel that this year’s Budget will be bad for their business, according to a survey conducted by Employment Law specialists Citation.
The recent study by employment law compliance firm Citation also revealed that 87% of business owners think a change in Government as a result of the upcoming General Election would have a negative impact on their business.
Business leaders feel that the Budget proposals do not inspire confidence, or help businesses to develop as they continue to recover from Britain’s worst recession in decades.
One participant said: “The National Insurance increase next year will affect our business when it comes to hiring apprentices. Our decision for creating new job opportunities will have to be carefully considered; ultimately this planned increase in NI could have a detrimental impact upon improving overall employment levels.”
An overwhelming reason for the negative response to a change in Government was that many business owners fear there is a lot of confusion over tax plans and anticipate a substantial rise in all taxes this year. However, as one respondent commented: “Taxes have to go up whichever party gets voted in.”
Chancellor of the Exchequer Alistair Darling has been criticised for this year’s Budget as it has not tackled the issue of reducing Britain’s record deficit, which is forecast to hit £167bn in 2010.
Commenting on the findings, Lindsay Hill, Chief Executive at Citation plc said “Our results suggest that many SMEs feel let down by the budget and by the lack of an adequate platform to support their business during the foreseeable tough trading conditions. The announcement of the new targets to help SMEs win public sector tenders will of course benefit SMEs, however it is inevitable that cuts in public spending will occur and we should be mindful to wait until the election to judge the impact.”
Citation’s compliance solutions in both employment law and health & safety provide SMEs with systems enabling them to easily demonstrate compliance for public sector Pre Qualification Processes (PQQs), improving their chances of winning contracts.
For more information about Citation and the services they provide, visit the Citation website at http://www.citation.co.uk/.
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Operating throughout the UK since 1995, Citation provides professional advice on employment law and health & safety packages to business clients. Independently endorsed at the highest level and winner of The Queens Award for Enterprise, its market leading services provide guaranteed protection in the high risk areas of employment law and health & safety regulations.
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