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The Times, in the first of a three part series examines what the main political parties have in mind for business as we countdown to the General Election in May.
The Lib Dems pledge to:
- abolish the DTI;
- devolve some of the DTI’s functions to other government departments and some to local business bodies;
- introduce a special business-rates allowance which would benefit small businesses;
- simplify the business environment, including the tax system, for small;
- create a deregulation unit to carry out independent assessments on the impact of all new regulations to decide whether they were justified. They would look especially at the practicalities involved for small firms in complying;
- All new business regulations would include a sunset clause which means they would have to be renewed after a time.
Malcolm Bruce, the Liberal Democrats’ trade and industry spokesman, told the Times: "Too often regulations are determined in terms that meet the needs of big businesses that have resources and specialist units and departments.
"Government forgets that they are too complicated for small firms. Big businesses can cope with bureaucracy and regulation and with complex tax systems - indeed, you could even argue that it is beneficial to them because they know that small and medium-sized businesses can’t, so it gives them a competitive advantage.
"The government has lost sight of the fact that most businesses in this country are small and medium-sized, and it has not geared business taxes and regulation to meet their needs."
Full article: Lib Dems vow to abolish DTI and simplify taxes - The Times.
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Susie Hughes © Shout99.com 2005
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