The Forum of Private Business says that Chancellor, George Osborne, must deliver a business focused Budget on Wednesday if he is serious about boosting businesses and the economy.
Members of the small business support organisation are desperate to hear positive news on business rates, fuel duty and on how the Government is planning to inject fresh life in to the Funding for Lending scheme, it says.
The organisation, which is based in the Tatton constituency where George Osborne is the serving MP, is warning that anything but a radical, business friendly Budget capable of shifting the economy into top gear, will be seen by its members as a fail.
Alex Jackman, the Forum's head of policy, said: 'Business rates and fuel head the list of businesses' biggest costs and some longer term certainty - rather than incremental postponements - over both of those would help enormously. On fuel we would love to see the Government get serious on fuel duty, not with just another postponement, but an outright cut to put money back into the pocket of consumers.'
He continued: 'We know the vast majority of small businesses would also welcome with open arms some form of fuel stabiliser. Not only would this keep the price of petrol and diesel at affordable levels, it would allow SMEs to plan ahead with certainty that there isn't a huge price spike around the corner as we've just seen.'
Speaking of the Funding for Lending scheme, Mr Jackman said: 'There's been talk of Government putting a rocket under its flagship FfL scheme since the news it was failing to hit business lending targets. That would certainly be welcome, just how they do that, and quickly, we don't know. The facts are too much FfL cash has gone to the mortgage markets, and this needs to be refocused on SME lending.'
Concluding he added: 'Essentially though, this has to be a budget that really helps businesses be confident in the economy going forward. Business is expecting a lot from the Chancellor, and we know he can deliver much of what they want.'
