Small businesses, the backbone of the UK economy, are disappointed by the recent decision made by the new Chancellor of the Exchequer, Jeremy Hunt, to backtrack on tax-cutting initiatives aimed at boosting growth. Just six days ago, Hunt reversed the previously planned reduction in corporation tax, which would have brought the rate down from 25 to 19 percent. Additionally, he also changed his stance on the proposed 1.25 percentage point decrease in dividend tax. This is particularly concerning for many small business owners who rely on dividends as part of their income. Overall, Hunt’s measures, intended to stabilize the nation’s finances, have been received as unwelcome news for small firms.