Owen Smith MP, Labour’s Shadow Treasury Minister, responding to the Federation of Small Business’ Voice of Small Businesses Index published today, said:
“This is a very concerning survey. Far from expanding to fill the gap left by deep cuts in public sector jobs many small businesses are now expecting to lay off staff in the coming months.
“The Government needs to listen to small businesses and act to support the jobs and growth our economy desperately needs. Labour’s five point plan for jobs includes the two key measures the FSB is calling for – a national insurance holiday for small businesses who take on extra staff and a targeted VAT cut that would help the construction industry.”
Toby Perkins MP, Labour’s Shadow Small Business Minister, said:
“Small businesses account for 60 per cent of private sector employment and almost half of private sector turnover. They are the backbone of our economy but are being squeezed on all sides, as the FSB’s Voice of Small Business Survey underlines.
“Confidence is at a historic low and this is putting jobs at risk. Ministers need to act now to help small businesses by introducing an effective plan for growth and getting banks lending to support enterprise.”