'Philip Hammond must address small business late payment problem in Spring Statement'

Philip Hammond has been urged to help small firms

Philip Hammond is due to give his Spring Statement today

Tuesday, March 13, 2018

A spokesman for the Federation of Small Businesses says it's vital Philip Hammond addresses the issue of late payment in his Spring Statement today.

Mike Cherry spoke to Julia Hartley-Brewer as Hammond prepares to give his bi-annual financial address in the Commons.

Cherry says we must curb the problem of tardy payments which sees four out of five small firms receive money behind schedule.

He added that business rates should be looked at, with the Chancellor reducing revaluations to every three years, and this "iniquitous tax" must be applied to everyone.

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