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Most business owners see national debt reduction as main priority for the new government
Posted May 18, 2010
The results of polls by two leading business organisations shows that most business owners view cutting the UK's budget deficit as the key priority for the new coalition government.
An impressive 93% of FSB members said that the new government must outline robust plans for tackling the massive deficit.
When asked what would encourage economic growth, 66% suggested a cut in fuel duty, and 36% would like to see an increase to the current income tax threshold.
Nearly half of the respondents in the survey would like to see new legislation put in place to force larger companies to settle invoices within 30 days.
These results were backed up by a similar survey, carried out by the Forum of Private Businesses earlier this month. 77% of those polled by the FPB listed repayment of the national debt as the most important priority for the new government.
Stronger regulation of the banking sector, and utilities was a popular priority for 62%, and simplification of the tax system a priority for 61% of participants.
Given the results of these surveys, contractors can look forward to the emergency budget on 22nd June, which is likely to contain announcements on paying down the national debt, stronger regulation of the banks, as well as a series of tax changes.
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