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Who said what to whom? Chuka Umunna, Shadow Business Secretary, told the Federation of Small Businesses in a speech last week that a Labour Government will create a Small Business Administration modelled on the US. In an accompanying policy paper, Lord Adonis said that among its tasks this body would make sure that 25 per cent of government contracts by value go to small businesses.

What does it mean The Coalition Government already has a commitment to drive up the amount of government buying that is done from small businesses to 25 per cent. But it includes the value provided…

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