The Forum of Private Business (FPB) said it is lobbying the Government for a series of specific tax cuts as part of proposals for ‘responsible growth’ as the economy heads out of recession.

The business organisation is warning that the prospects for sustained economic recovery could be jeopardised unless small businesses are provided with an environment in which they can survive and grow.

Consequently, a cornerstone of the Government's Pre-Budget Report on December 9 must be implementing substantial tax reliefs for SMEs, the FPB said.

“There is still a long and difficult road ahead of us, but small businesses are key drivers of the economy and the Government must create a tax environment in which they can thrive,” said the FPB’s chief executive, Phil Orford.

“That means tax relief in specific areas that would help to foster cash flow, innovation and employment opportunities so that small businesses are able to seize the opportunities that will emerge as the economy emerges from recession.”