SFA urges spending cuts over budget tax increases

THE Small Firms Association (SFA) has broadly echoed its parent body IBEC in calling on the Government to deliver the country’s latest €3.6bn budget adjustment mainly through spending cuts rather than tax increases.

In its pre-budget submission, the SFA said income tax, VAT and corporation tax should remain unchanged, and social welfare, public sector reform and the restoration of consumer confidence should be key budget issues.

Last month, IBEC called for a budget overhaul of the tax and social welfare systems and for the adjustment to come through a €2.7bn cut in expenditure and the raising of €900m in certain tax increases.