Small Business Is Our Business; with Mike Learmond, the Federation of Small Businesses' North Wales Development Manager
THIS week we gave evidence to the Silk Commission, the body tasked with looking at the powers of the National Assembly for Wales and the case for devolving fiscal powers.
Given that the vast majority of Welsh businesses are micro and small business, any potential changes to the tax system as a result of the Commission's inquiries are of direct interest to our members.
As the authoritative voice of small businesses, with 10,000 members in Wales, we recently held a focus group in St Asaph with North Wales members to gain their views.
The aim was to encourage our members to think clearly about how the giving of tax-varying powers to Wales would affect their businesses, to inform our evidence submission to the Commission.
An engaging debate took place on what tax-varying powers could mean for Welsh businesses. These powers could include corporation tax, non domestic rates, corrective taxes and taxes on resources.
Wide-ranging views were put forward and the consensus from our North Wales members was that changing tax rates and other financial measures as a means of kick-starting economic growth would be welcomed, but not without some safeguards, checks and assurances. …