SME plans fail to impress
The 2010 Budget proposals to ease the burden for small to medium-sized enterprises (SMEs) have received a lukewarm reception from the business community.
The Chancellor has announced new lending targets of £94bn for the Royal Bank of Scotland (RBS) and Lloyds Bank, stipulating that half of this must go to SMEs.
The Government also plans to introduce a one-year business rate cut from October to help an estimated 500,000 companies, freeze Capital Gains Tax (CGT) rates, double relief on CGT for entrepreneurs and give £2.5bn support for small businesses to boost skills.
However, Phil Orford, chief executive of the Forum of Private Business, said the
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