SME attitudes towards a Financial Transactions Tax

This survey explored attitudes towards a Financial Transactions Tax amongst directors of Small and Medium Enterprises (SMEs).

Technical Detail

This research is based on 301 interviews conducted with SME owners/ Directors between 1 March and 5 March 2010 via the Continental small business omnibus.

Key findings160

• 36% of SME directors surveyed felt a Financial Service Tax would have `no impact at all' on their business, compared to 11% who felt it would have `a strong impact.'160
• The most preferred option available to the Government in light of the recession and growing public deficit was `Cutting public spending' (37%); this was followed by `Introducing a Financial Transactions Tax' (22%); `Increasing VAT' (13%); Increasing Income Tax and/ or National Insurance (7%); and Increasing Corporation Taxes (6%)*160
• 16020% of SME directors agreed (strongly / slightly) with the idea of the Government introducing a Financial Transactions Tax; while 43% disagreed (strongly / slightly).

*14% selected don't know / none.

• Download the research data (PDF)