Given the news that Rishi Sunak has announced that there will not be an emergency budget, the likelihood of such an announcement has increased.What do SMEs want to see from an emergency budget?&nbsp;

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What do small businesses want from an emergency budget?

Cutting Employer's National Insurance is a must. UK small businesses are facing a triple whammy of high inflation, labour shortages and consumers looking to cut back due to the cost of living crisis. 

Employees will no doubt soon be demanding record pay rises to help them cope with that cost of living crisis. 

Those pay rises, coupled with the recent National Insurance rises, could see many small firms' wage bills soaring by 10% or more! Those soaring wage bills arriving at the same time consumers cut back their spending means many UK firms could be facing a bleak future.

Scott Gallacher

Scott Gallacher is a Chartered Financial Planner, Independent Financial Adviser and Director of Rowley Turton, a Chartered independent financial planning firm based in Leicester. He has worked in financial planning for nearly 30 years and regularly comments in the national media on retirement, pensions, inheritance, investing, tax and later-life planning. Scott is the author of 50 Today 100 Tomorrow: Planning Your Money and Life for the Next 50 Years and founder of 100 Tomorrow, where he writes about retirement, longevity, financial planning and making the most of the years ahead. He is APFS qualified and holds specialist qualifications in pensions, taxation, trusts, investments, long-term care, equity release and divorce. Scott has a particular interest in the human side of financial planning, including when people have enough, when they can afford to retire, how much they can safely spend and how they can help the next generation without compromising their own financial independence.

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"If a shopping list for an emergency budget could be handed to Rishi Sunak, I feel I might talk for small businesses across the country when I ask for the following. A reversal of the National Insurance increase; measures to cut energy bills such as the VAT cut introduced for the hospitality industry during the pandemic; raising the Employers Allowance; and installing a sick pay rebate for the smallest businesses that are impacted hugely by staff absence."

Debbie Porter

The Managing Director of Destination Digital Marketing, the consultancy works on a wide variety of client projects across different industry sectors but specialising in FMCG, retail and consumer brands.  With over 25 years experience in the Internet Industry, Debbie has worked across a large range of digital technologies for business in a wide range of roles. 

Having worked for large companies such as Reed Elsevier, the Daily Mail and BT during her career, Debbie then went on to run her own business and has been running an independent digital marketing consultancy for over 15 years.  


"As a small manufacturing and ecommerce jewellery business in the retail sector the current economic climate is of great concern. The government need to act now to implement an emergency budget that supports SMEs though this unprecedented economic crisis. They need to reduce VAT down to 5% for the retail sector like they did during the pandemic for the hospitality industry. This would instantly benefit both the business and the consumer."

Julia Usher

Julia is the owner of Ashes Memorial Jewellery. Julia is a highly trained jeweller and silversmith. Along with running the business Julia specialises in designing and innovating new collections of memorial jewellery with the team. Julia trained at the Birmingham school of jewellery and  has been a jeweller for nearly 20 years.

What do small businesses want from an emergency budget?

3 responses from the Newspage community
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Scott Gallacher

Director at Rowley Turton

Debbie Porter

Managing Director at Destination Digital Marketing

Julia Usher

Managing Director at Ashes Memorial Jewellery

3 responses from the Newspage communityCopy all

3 responses from the Newspage community
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