Alliance & Leicester finds small businesses worried about the budget

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Alliance & Leicester finds small businesses worried about the budget

Chancellor Alistair Darling is due to make his first budget speech on March 12th, but new research from Alliance & Leicester has revealed that 70 per cent of small businesses are either worried or apprehensive about what he has to say.

They already have an indication of what the Chancellor will announce from the 2007 Budget and the October pre-Budget report, which brought in increased corporation tax rates, legislation to prevent income splitting, changes to capital gains tax including abolishing taper relief and increases in fuel duty.

Only one in ten of the small businesses surveyed by Alliance & Leicester actually understand what the proposed tax changes will mean for their company.

More than half of respondents cited increased fuel prices as their primary concern, while a similar figure singled out regulation and red tape as extra areas of worry.

Steve Jennings, director of business banking at Alliance & Leicester Commercial Bank, said: "With economic uncertainty, small businesses are starting to feel the pinch and the Budget is another concern for them".

He added that "with good planning" businesses can ensure they are ready to face these financial threats.

In other news, Alliance & Leicester also revealed today that the average wedding costs £19,400, nearly £3,500 more than the £15,927 people expect to spend on their big day.
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