Small caps gloomy on red-tap relief

Small caps gloomy on red-tap relief

Baker Tilly survey reveals little cause for Budget optimism

The UK’s smaller listed companies are expecting little help from chancellor
Gordon Brown in next month’s Budget speech, a survey by Baker Tilly has
revealed.

The mid-tier firm quizzed one hundred small cap companies and found that more
than half (56%) expected there to be no relief from current red tape regime.

Furthermore, three-quarters believe the chancellor has failed to foster a
spirit of entrepreneurialism, while 90% said they had not benefited from
attempts to cut red tape in the past, the FT reported.

George Bull, a partner at Baker Tilly, was more optimistic than the companies
surveyed saying there was likely to be an improvement in capital allowances for
small businesses.

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