Small businesses, the backbone of the UK economy, are disappointed by the recent decision made by the new Chancellor of the Exchequer, Jeremy Hunt. Hunt’s choice to backtrack on tax-cutting measures aimed at boosting growth has left many small business owners disheartened. 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 made a U-turn on the proposed 1.25 percentage point decrease in dividend tax. This is particularly significant as many small business owners receive their income through dividends. Overall, Hunt’s measures, intended to stabilize the nation’s finances, have been received as unfavorable news for small firms.