A targeted VAT cut and a National Insurance Contributions holiday must be introduced for small firms as business confidence fell to -9.3 due to the pressure of weak demand and rising costs, according to the Federation of Small Businesses 'Voice of Small Business' Index.
The Index - a good predictor of the path GDP will take - fell by 9.6 points from +0.3 to -9.3 in the third quarter as confidence in the economy dropped.
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