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Could the pre budget report be bad news for small businesses

Following the welcoming of two of the items regarding the export guarantee scheme and Small Business Rate of Corporation Tax, it's argued that the report has actually made basic conditions for small businesses more difficult and more hostile.

Further increasing National Insurance by an extra 0.5 per cent has been described in the Telegraph as literally a tax on jobs, by paying a levy on anyone you employ on a salary of more than £20,000.

They claim it's a drag on businesses that are already struggling to pay the bills and keep on staff and will impose further delays on the taking of new staff as the economy recovers.

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