Chancellor makes pro-business pledge

Tuesday 30 September 2014

Chancellor George Osborne has pledged to help business, outlining a number of areas to be changed in his speech at the annual Conservative Party Conference. Those thinking of setting up a business or becoming a limited company are among those that could benefit from this.

He promised that he will stick to his original plans to reduce the deficit but also intends to tackle youth unemployment, deliver 140,000 new homes a year and cut taxes faced by businesses.

The promises from Mr Osborne were welcomed by a number of business groups, including the Confederation of Business Industry (CBI), the Association of Independent Professionals and the Self Employed (IPSE) and the Federation of Small Business (FSB).

CBI welcomed plans to invest in infrastructure and in skills, which is said is useful for boosting growth across the country.

Where youth unemployment was concerned, it noted that young people can be affected for the rest of their lives by being unable to find a job and so offering them different options would help them greatly. It added that business is ready to do more for young people in terms of training and apprenticeships.

CBI supported the decision to set lower business taxes in the UK and that it supports transparency on tax. It added that it will work in conjunction with the government to make sure tax rules are fair, particularly as firms wish to operate within the rules.

National Chairman for FSB John Allan announced the organisation's support for Mr Osborne's ambition to make the UK the best place in the world to do business and the backing that he intends to give to small business.

He added that the speech was in line with a number of points in the FSB's manifesto, which calls for business taxes to be lowered, growth to be boosted in regions beyond London and the south east through investment in infrastructure.

The FSB was delighted too to see a bigger emphasis put on apprenticeships in the speech, something that it wants to see boosting. However, it reminded policy makes to make sure that plenty of apprenticeships are provided without losing any quality in training.

Policy development manager at IPSE George Anastasi said: "Today’s speech by the Chancellor is hugely encouraging for small businesses across Britain. The Chancellor’s commitment to cutting taxes for businesses and his recognition of the self-employed goes a long way to highlight the immense contribution this important sector makes to the UK economy every year.

"George Osborne outlines a series of measures to get Britain moving, such as improving and extending the UK’s infrastructure.

"Improving infrastructure must be a priority for the next Government and IPSE’s recent manifesto for the self-employed outlines a series of policies that the next Government could implement to unlock the potential of the UK’s smallest businesses."

Indeed, the manifesto from IPSE was also recently presented to the Labour Party ahead of its annual conference. It encourages politicians to make self employed professionals a more central concern when outlining new policies and to try to give them better rights without making them less desirable for companies to work with.

By Victoria McDonnell

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