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Schroders’ plea to ease SME burden

Schroders fund manager Andy Brough is sending out a plea for action to help small and medium-sized business.

Brough’s five point mini-manifesto calls for a cut in red tape, reduction in taxes, help for students to reduce debt, the return of the dividend tax credit and staying out of the euro.

Brough, who manages 3.5bn, says the Government should be reducing burdens on business rather than increasing them, with the future of SMEs depending on less regulation.

He says a reduction in taxes would encourage more businesses to set up in this country and ensure wealth generators stay on board. Brough points to a trend which he can see continuing in other countries where taxes are being reduced and flat-rate tax structures are being considered.

Student debt, says Brough, will increasingly deter young people from going into higher education, leading to a shortage of skilled staff and dam- aging UK competitiveness.

He says that the reintroduction of the divid- end tax credit would be a significant step towards the reduction of pension fund deficits.

The structural differences between the UK and eurozone economies mean the UK should retain an independent monetary policy, says BroughBrough says: “I am calling on the next UK Government to make sure that SMEs are helped and not hindered by new legislation, as today’s start-ups could be tomorrow’s multi-nationals.”

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