Member News
Matt Goodman, policy representative for the Forum of Private Business, sets out its priorities for a new government.
While we have a true three-horse race for the general election, the possibility of a hung Parliament can do nothing but generate uncertainty about the future of the UK economy.
With a very slow recovery and some businesses still reliant on public support, the sooner a minority government or coalition can provide clarity on the way forward, the better.
Eight per cent of the members of the Forum of Private Business who voted in our recent Referendum 191 ballot told us that they weren't able to plan for the year because of the lack of clarity.
So it is important that the parties come together to agree a way forward, stick to it and continue support for smaller businesses over the course of the new Parliament.
All the prospective candidates have received a copy of our manifesto, in which we've set out what we feel should be the priorities for the new government. Those are:
• Free enterprise
We believe that the greatest drivers of growth in the UK economy will come from small businesses, with new ideas borne in rapidly changing sectors and developed at a speed that traditional models of government spending will not have the agility to support.
• Fiscal responsibility
Securing the UK's reputation as a good place to do business will mean bringing Britain's finances under control. That will mean a combination of smart taxation and smarter cuts to public spending.
• Stability
Whichever party is elected, we believe that any drastic cuts to government programmes and initiatives should be balanced out with the need to ameliorate the damage of the recession. Put simply, there should be a continuity of support that goes beyond party politics.
• New technologies, new markets
As new technologies develop and new markets open around the world, there should be equal opportunities for small businesses to develop new business models in innovative ways.
Another priority should be to stop the planned rise in National Insurance contributions from going ahead. We do not believe that the economic case has been made for such a clear increase in the cost of hiring new staff, particularly given the existing tax burden on small businesses. The Conservatives are promising to cut that rise in half, but that's not enough; it should be dropped completely. Surely we can find better ways to balance the books than to tax those who are going to pull us out of the recession!
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