Labour needs to get out of the way of small businesses | City & Business | Finance
Conservatives are the natural party of business. On the other hand, Labour won’t ever understand what they need, or how to support them. People may have forgotten that in the fourteen years Labour has been out of office. But the last 14 weeks have shown the deep blue water between us in how we treat business. Small businesses provide vital goods and services. The business owners that run them are hardworking risk takers, creating value and serving consumers.
Together, they employ more people than the largest businesses in the country. The most helpful thing Government can do for them is to get out of their way.
Between 2010 and 2024 one million more businesses were created, and with them four million more jobs. That’s not to say we got everything right. We didn’t. But Labour seems to be deliberately focused on unpicking all that good work. Labour’s Jobs Tax will cost jobs, suppress salaries and shutter small businesses. It is obvious from the lack of any business experience in the Cabinet that they don’t understand what business needs, but this tax rise is especially destructive. It’s even worse given Sir Keir specifically committed to not increasing this very tax when he was after your vote. This is only the tip of the iceberg. Many family businesses will fall into inheritance tax for the first time and Labour’s employment rights bill is also set to drown businesses in red tape – costing the economy £4.5 billion by their own estimates. Small businesses, already on tight margins, are now facing a triple whammy of taxes from an increasingly hostile government.
Taking it all into account, this is a full frontal assault on private enterprise. No wonder there is a growing outcry from businesses about Labour’s approach to the economy – even from those who publicly supported Labour before the election. It is not surprising that such a Left-wing government would take this ideological approach. It’s just amazing they’ve managed to do so much damage already. We should take the time to support our local shops this Small Business Saturday. They need it more than ever before. Sadly, this is the start – not the end – of Labour’s war on small businesses.
