Jun 24 - GFSB Welcomes Budget Measures
The Gibraltar Federation of Small Businesses (GFSB) says it is very pleased to see that many of the points which it raised with the Government have been taken on board and are included in the budget speech. In particular, the organization says it is delighted that the cost of utilities and social insurance have not been raised once again.
A statement from the GFSB continued:
“We are pleased that the concerns of small businesses are being taken into consideration, as is now apparent, both in the Budget Speech and the Party Political Broadcast of the Minister for Commercial Affairs. We have worked tirelessly, to ensure that our members' interests are being taken into account.
“There is, of course, still a lot of work to be done - but the mere fact that there are budget measures which are angled at small businesses alone, is a great step for the GFSB.
“We are delighted that Government took on board a version of our initiative for a Social Insurance Allowance - the version given is a start, although it doesn't really focus on the smallest businesses in our community, which was our aim.
“Similarly, our concern relating to the thresholds for audits has been listened to. We believe this threshold needs to go up further, as the audit process is not really designed for businesses with such a small turnover.
“Other GFSB suggestions which have been taken on board include the double social insurance contributions which often have to be paid by employers, if the employee has more than one job; capital allowances for start-ups; architects’ fees and planning costs.”
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