Weekly Brief
Week 49 of 2008 Friday 5 December 2008
In this week's issue: Interest rates; Queen speech; VAT; Putting the Economy Back on Track; Procurement; Christmas lights; Congestion; Parental legislation; University support
Interest rates
FSB National Chairman John Wright joined with other business representatives organisations welcoming the Bank of England's Monetary Policy Committee's historic rate cut to two per cent this week. But he warned in the Times and the Telegraph that banks must pass this saving on.
Queen's Speech
The Queen's Speech provided a mixed bag for small businesses this week. While the FSB welcomed the crown jewel of the speech, the creation of a statutory Banking Code, there was less of a welcome for the decision to go ahead with proposals on extending flexible working legislation and raising business tax. Head of Public Affairs Stephen Alambritis was featured on the front page of the Daily Telegraph criticising the move, while John Wright told the Daily Mail that the new rules were an extra burden for small businesses.
VAT
As the dust of the Pre-Budget report settled, it was revealed late last week that many retailers will not have had time to change their prices to reflect the change in VAT from 17.5 to 15 per cent. The FSB told the Mail on the Sunday and the Independent that it will be a "struggle" for small businesses to comply on time.
Putting the economy back on track
FSB National Policy Chairman John Walker has launched the last in a series of reports setting out proposals to put the UK economy back on track, based on its biennial membership survey. The latest report, titled Putting the economy back on track: Work-life balance, calls for more support for disabled people to start their own business.
Procurement
The long awaited Glover Review into small businesses bidding for public sector contracts, was finally published last week. The FSB gave it a cautious welcome in the Financial Times.
FSB lights up Orpington
Forget the SugaBabes or Take That, FSB National Chairman John Wright took centre stage on Wednesday when he turned on the Christmas lights in Orpington High Street as part of the Keep Trade Local's Christmas campaign. The campaign urges MPs to source their Christmas dinner locally. An Early Day Motion was also launched in Parliament to support it this week.
Congestion
Next week will be either champagne or tears for the FSB in Greater Manchester as we await the result of a postal ballot on the introduction of a congestion charge in the city centre. Thanks to the good work of the FSB representatives in Manchester and North Cheshire, the FSB has been the lead business organisation in the NO campaign and is instead calling for the local councillors to speak to residents and businesses to come up with a transport system that is fit for purpose and affordable. Visit Stop the Charge to find out more.
Parental legislation
Businesses can now take advantage of a free service which will help them navigate through issues relating to parental legislation. Available at Business link's Work and Families website, the service collates in one place information, guidance and practical support on maternity, paternity and adoption leave and pay.
University support
The Higher Education Funding Council for England and Universities UK have put together a report on how universities and colleges can do more to help businesses during the economic downturn. The brochure, Standing together: universities helping business through the downturn, sets out the kind of support universities and colleges can offer employers, both in the current economic climate and longer term
Have a good weekend,
Marc Shoffman