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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

The Bank of England’s decision to lower interest rates to a new historic low of 1 per cent has been met with a mixed reaction from the business community.

Small firms are being urged to tender for public sector contracts and to make use of a government website that advertises projects suitable for smaller enterprises.

A leading business group has argued that greater numbers of small firms should look at the benefits that taking on apprentices may have to offer.

The CBI has called on the government not to consider axing the research and development tax credit scheme as a way of saving money.

An advertising campaign has been launched to promote the various government-funded packages available to small firms in order to help them cope with the recession.

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