Why are SMEs getting squeezed?

Governments aren’t the most logical of organisations at the best of times. When election season rolls around, any pretence of rationality gets firmly shoved down the list of important things to be done.

One logical element that deserves a place in the government’s calculus is the number of people in full-time employment. Jobs, we are constantly told, are the central focus of the government.

And who creates jobs? Small businesses create jobs. SMEs ...