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Greetings!
Welcome to the final policy eshot of
2009. Please take some time to go
through the information contained under
the four key issues on which our lobbying and
representation is based.
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| FINANCE AND TAXATION |
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State of the Nation |
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The results of the latest
quarterly economic survey will be published
in the New Year and a new event for the
Chamber's calendar will be held to coincide
with this on 12th January at
the Miskin Manor Hotel.
Professor Brian Morgan of the
University of Wales Institute Cardiff will be
explaining what the results mean for Wales, plus
the South Wales Chamber's National Recovery Plan
will be launched.
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Pre-Budget Report |
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The South Wales Chamber of Commerce has
commented on the following announcements:
- We
believe the Government has recognized that help
for small businesses is essential during this
economic downturn. We welcome the announcement
of freezing the rate of small business
corporation tax at 21%, and extending the £1.3
billion Enterprise Finance Guarantee for a
further 12 months.
- A
0.5% increase to National Insurance
Contributions in 2011 is a major issue for
business. This announcement will not encourage
job creation within small businesses and tackle
the escalating problem of unemployment in Wales.
- We
believe that the announcement of public sector
cuts will have a detrimental affect on private
sector finances.
- The
South Wales Chamber of Commerce was hoping for
the announcement of a strong, reliable and
optimistic National Recovery Plan that outlines
how the budget deficit will be halved leading us
into an optimistic
2010.
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Business Rates |
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Small
Businesses in Wales will soon be faced with the
burden of increased business rate bills. Our
members are concerned that the new valuations for
April 2010 are base on property prices as in April
2008, a year when property was booming! Some rates
will fluctuate from 15% to an astonishing 50%,
small businesses will be left with the burden of
finding the extra income; we hope this will not
result in redundancies and even more closures of
small businesses.
A letter of concern
has been sent to the Deputy First Minister and
Minister for Finance to outline the issues that
small businesses are facing as a result of
increased rates bills. Included in the letter is a
list of recommendations that we hope the will be
addressed by the Welsh Assembly Government.
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VAT Online Service |
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From
April 2010, HM Revenue & Customs (HMRC) plans
to phase out paper VAT
returns.
Under Government
proposals:
- From
1 April 2010 all VAT registered businesses with
an annual turnover of £100,000 or more
(excluding VAT) will have to file their VAT
returns online and pay electronically.
- From
1 April 2010 all businesses newly registering
for VAT, whatever their turnover, will be
required to file their VAT returns online and
pay electronically.
- Paper
returns will still be an option for those
remaining VAT registered businesses with a
turnover under £100,000 but this will be
reviewed before 2012 when it is expected that
all VAT registered businesses will have to file
their VAT returns online and pay
electronically.
- HMRC's
Carter Programme was established to ensure
successful implementation of the recommendations
Lord Carter made in his 'Review of HMRC Online
Services'.
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| EMPLOYMENT |
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Pay and work rights helpline and
website |
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The Department for Business, Innovation and
Skills (BIS) has recently launched an awareness
raising campaign to inform workers of their rights
on pay, deductions and working hours.
As part of the campaign, the SWCC
are promoting the Pay and Work Rights
Helpline - this enables workers and
employers to call in confidence for information
and advice on the minimum wage, the right
not to have to work more than an average 48 hours
a week as well as for information on employment
agencies or gangmasters. In addition,
BIS has produced the Pay and Work Rights Frequently
Asked Questions to help workers
understand their
rights. |
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| INFRASTRUCTURE |
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High Speed Rail |
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The BCC'S national High-Speed Rail
Report was created in conjunction
with a number of affiliates Chambers.
The chapter for Wales can be viewed on page 18 and
19. |
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Infrastructure Survey |
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In January 2010, members of the SWCC will
receive an online Infrastructure survey. This
survey is part an Infrastructure campaign managed
by the British Chamber of Commerce, in partnership
with the
SWCC. |
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| ENVIRONMENT |
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Green Fleet Review |
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The Energy Savings Trust is able to offer the
Green Fleet Review in Wales as a result of WAG
funding until 2011/12. The review is fully
funded and eligibility is based on fleet
size.
Reviews can be made across a wide cross
section of organisations in both the public and
private sectors with fleet sizes from 55 to over
24,000 vehicles. To qualify you need 50
'vehicle-equivalents' of 3.5 tonnes or less (cars,
4x4s, pickups, motorbikes and most vans). The
review takes a very practical approach to reducing
the many impacts of running a fleet of vehicles,
with the aim to not only cut carbon but also
costs.
If you require further information
please contact the Energy Savings Trust on 02920
468340. |
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Seasons Greetings,
The team at South Wales Chamber of
Commerce | | |
