SMALL firms across East Lancashire could save thousands of pounds if Gordon Brown cuts VAT and the cost of buying a property in next month's budget.
The Chancellor was expected to announce the proposals in a speech to businessmen and union leaders in Leeds yesterday.
Mr Brown has revealed he plans to either abolish or raise the threshold on stamp duty and to introduce a flat rate of VAT.
Public money will be used to help individuals and small communities in areas of the country like Blackburn.
Mr Roger Gibson, Business Manager of East Lancashire Chamber of Commerce, said he welcomed any move which would truly help small businesses and raise productivity.
"It is just a question how much it will benefit small businesses."
He said that the Chamber of Commerce had been lobbying for the government to help small businesses because they are the lifeblood of the country.
"Even if you have 20 employees you are as vital to the economy as a company that has 250."
At present, small firms pay stamp duty on properties worth more than £150,000.
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