Jeremy Hunt’s Budget may be good for big business, but where does it leave SMEs?

Small firms feel ‘overlooked and undervalued’ after £27bn tax break for big companies

Jeremy Hunt’s measures to address worker shortages and boost investment might reassure businesses that Britain’s economy is finally heading in the right direction.

But Martin McTague, national chair of the Federation of Small Businesses (FSB), said big announcements such as investment allowances for bigger businesses – worth £27bn over three years – came without any comparable measures for his members, of whom only a tiny number will benefit.

“The distinct lack of new support in core areas proves that small firms are overlooked and undervalued,” he said. “Budgets are about tough choices, and with today’s billions being allocated to big businesses and households, 5.5 million small businesses and the 16 million people who work for them will be wondering why the choice has been made to overlook them.”