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  • Views from the flipside

    Which policy gets your vote?

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Views from the flipside

With the general election taking place in exactly three weeks, the main political parties are campaigning for people's votes and are expressing their party manifestos.

For businesses, there is a high-level of uncertainty as until voting takes place, they cannot be sure on which policies are due to affect them. This evidently makes it harder to plan and make important decisions for the future. However, most parties are noticing just how important businesses are to the economy and have included policies to reflect this, thus indicating a small level of clarification.

Below are a variety of policies that could have an impact on UK businesses which could influence their vote.

The Conservative Party

The Conservative Party

  • Triple the number of start-up loans to businesses to 75,000
  • 'Help to Grow' – to create £1bn in loans businesses
  • Working 30 hr on minimum wage out of income tax
  • No rise in VAT or NI contributions
  • Review Business Rates
  • Money saved in reducing the benefits cap to fund 3 million apprenticeships

 

The Green Party

The Green Party

  • Corporation Tax to rise by 20%
  • Restore Legal Aid
  • Increase the minimum wage to £8.10 in 2015 and £10 per hour by 2020
  • Introduce a maximum 35-hour working week

 

 

The Labour Party

The Labour Party

  • Abolish employment tribunal fees
  • Increase National Minimum Wage to more than £8 an hour by October 2019
  • Ban exploitative zero-hours contracts
  • Apprenticeships for every school leaver who attains the grades
  • No rise in VAT, NI or basic/higher rate income tax

 

Liberal DemocratsLiberal Democrats

  • Expand apprenticeships and develop national colleges for vocational skills
  • Expand British Business Bank
  • New community banking sector for SME
  • Raise £1bn from extra Corporation Tax on banking sector
  • Raise the income tax threshold to £12,500
  • Remain in the EU, opening new markets for British businesses


Plaid Cymru
Plaid Cymru

  • Increase level at which NI contributions are paid
  • Taxation powers - Corporation Tax and some income tax powers
  • Living wage for all employees by 2020
  • Create 50,000 jobs by better use of the £4.3bn contracts purchased by public sector
  • Cut business rates for small and medium sized businesses, with 70,000 paying no rates at all

 

SNPSNP

  • SMEs to be paid on time by prompt payment
  • Control of NI contributions
  • Tax incentives for research and development
  • Control of the personal tax allowance

 

 

UKIPUKIP

  • Negotiate a bespoke trade agreement with Europe
  • Enhance the UK’s position at the World Trade Organisation
  • Increase personal allowance to £13,500
  • Cut business rates for small businesses

 

 

Sources: http://www.bbc.co.uk/news/election/2015/manifesto-guide

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