Electrical retailers' body, Retra, has criticised The Chancellor’s 2007 Budget . Retra, which speaks on behalf of more than 1450 independent electrical retailers, is especially disappointed by plans to increase the rate of corporation tax on small businesses from 19 to 22 per cent when, for large companies, a cut in corporation tax has been proposed.
Retra chief executive, Mark Hayward, said: "Retra feels let down by this Budget. The Chancellor, who claims to be a friend of small businesses, has imposed a massive tax hike on them. With friends like this, small businesses do not need enemies. Small business Peter is being robbed to pay big business Paul”.
Mr Hayward went on to say: "There are some measures in the Budget that retra can support. The Government is offering up to £3000 in training per employee to small businesses that take on staff lacking basic skills. This is helpful. But measures like this are outweighed by the corporation tax hike.”