|
The Times, in the second of a three-part series, examines what the main political parties would do for small business, with a close-up look at the Conservatives. (See also: Lib Dems' promises for small business)
Pre-election sweeteners
It reveals that the Conservatives plan to deliver some pre-election tax sweeteners to small businesses over the coming weeks.
They are reported to be considering three options:
- to abolish IR35;
- to abolish non-corporate distribution, a move they say would simplify the calculation of corporation tax and give many small businesses a lower tax rate;
- to instruct the Inland Revenue not to use Section 660 legislation to raise the tax yield from husband-and-wife businesses.
The Conservatives also intend to:
- have a senior person in every government department to look after small businesses;
- slim down the DTI by 80 per cent concentrating on ' helping businesses create wealth rather than weighing them down with regulations';
- incorporate the Small Firms Loan Guarantee Scheme into the DTI;
- create two core teams in the DTI focussing on the overall regulatory burden on business, and preventing the over-implementation of European Union rules;
- introduce sunset clauses to ensure that all business regulations would automatically lapse after a certain date;
- reinstating Britain's opt-out from the social chapter to prevent the follow of regulations coming over from Europe;
- introduce a three-month secondment for all DTI officials involved in deregulating business to a relevant business, including small and medium-sized companies;
- consider opening up Government procurement to small businesses, in much the same way as happens in America.
Henry Bellingham, the Tory shadow small-business minister, told The Times: "The voice of small business has not been properly heard across Whitehall. The whole culture around Whitehall has to change. It has to be more friendly to small business.
"There has to be recognition across government that small businesses are the lifeblood of the economy. It is absolutely vital that they are properly nurtured and recognised."
Full article Tory 'champion' to help firms - Times
If you wish to comment on this article, please log in and use the Reply button below. Registering is simple and easy to do online - see 'Join Shout99'.
--
The Editor
|
