Budget 2007: The budget and small business. By Simon Sweetman

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The first reaction was disappointment (going on outrage in some cases). The news that the small companies rate is going up from 19% - ultimately to 22% - at a time when the headline rate is to be cut to 28% is a blow to many SMEs. This the day after the Treasury told me that a 3% cut in the main rate (as suggested by the Tory tax reform commission) would be totally unviable. The main winners here are big business. This government does still seem to believe that if it is nice to big business it will stop funding Dave Cameron and his boys. That wont happen.

The sufferers here will really be companies making between 50k and 300k in profits. This may include a large number of the growing businesses that the Chancellor wishes to encourage, which seems strange. In practice, though, a business of...

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