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Last Minute General Election Party Promises

If, after what seems like the longest General Election campaign ever, you still cannot decide who to vote for, here are the basic General Election party promises that will, or could, affect SME’s after Thursday 7th May.

We hope it helps.

The ConservativesConservative party logo

  • Treble the number of Start Up Loans
  • Launch Help to Grow – to assist growth stage businesses
  • Review business rates
  • Increase the target to 1/3 the SME share within central government procurement
  • Pilot schemes allowing local councils to retain 100% of any growth in business rates (limited pilot areas)

LabourLabour Party Logo

  • Pledge to address rising costs for small businesses
  • Strengthen rules on late payments
  • Cut, then freeze business rates for over 1.5 million business properties
  • Cut then freeze business rates to be most competitive in G7
  • Increase minimum wage to £8 per hour by Oct 2019 plus introduce Make Work Pay contracts providing tax rebates to firms giving Living Wage to employees
  • Ban zero-hours contracts
  • Guarantee apprenticeships for every school leaver who attains grades & require any business with large government contracts to offer apprenticeships
  • Introduce a British Investment Bank with a support of network banks

The Lib DemsLib Dem Party Logo

  • Provide further support to medium-sized businesses – a one-stop-shop for accessing government support, a dedicated unit in HMRC and the development of management skills
  • Expand the British Business Bank becoming more central within the economy, address the shortage of equity capital for growing firms plus provide long-term capital for medium-sized businesses
  • Encourage the growth of crowdfunding and alternative finance options
  • Promote a community banking sector to support SME and social enterprises
  • Introducing Land Value Tax, to replace Business Rates in the longer term potentially enabling the reduction or abolition of other taxes
  • Work to open up public procurement to small and medium-sized companies and to the voluntary sector
  • Complete the rollout of high-speed broadband, to reach almost every household (99.9%) in the UK as well as small businesses in both rural and urban areas
  • Double the numbers of businesses hiring apprentices and give young people discount bus pass to cut the cost of travel

SNPSNP Logo

  • Small businesses to be paid on time, pushing for prompt payment measures
  • Early devolution of Air Passenger Duty – boosting tourism sector
  • Funding to boost house building from UK Government
  • Support infrastructure investment, HS2 & high speed connections between Glasgow, Edinburgh & North England
  • Targeted approach to business taxation and targeted changes in tax allowances

UKIPUKIP Logo

  • Tax relief on business owned property under £50, 000 – 20% rate relief
  • Small businesses will provide evidence of repeated late payments to HM Revenue and Customs. If the large company is found to be systematically exceeding its contractual terms of payment with small businesses, a sanction of significant fines, proportionate to the extent of the abuse of terms, will be levied
  • Pilot a scheme to improve access to trade credit insurance to small businesses
  • Push every local authority in the country to offer at least 30 minutes free parking in town centres, high streets and shopping parades, to encourage shoppers into our town centres and boost local business
  • Will repeal EU regulations and directives that stifle business growth
  • Will make it easier for small and medium-sized businesses to tender for public sector contracts, by removing the necessity to demonstrate compliance in areas irrelevant to the job being tendered for
  • Allow young people to start an apprenticeship in place of four non-core subjects at GSCE level

Green PartyGreen Party Logo

  • Ensure that legislation requiring that small businesses should be paid on time is properly enforced
  • Make it easier for small businesses to employ people and contribute towards paying the living wage by using receipts from a wealth tax to reduce employers’ National Insurance in the longer run to 8%
  • Improve the competitive position of small firms, maintaining corporation tax for small firms at 20% while raising that for larger firms to 30%
  • Increase access to finance by investing £2bn in a network of community banks, mutually owned and serving local areas or particular groups
  • Help small businesses in the tourism and restaurant sector by lowering VAT to 5% for cooked food, entertainment and accommodation, costing £6 billion a year
  • Keep trade local by allowing local authorities to favour local procurement to help their local economy
  • Ensure that the great majority of honest small businesses can compete fairly with the less scrupulous by cracking down on tax evasion
  • Give BT and other public telecommunications operators an obligation to provide affordable high-speed broadband-capable infrastructure to every small business
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A 2 Z Business Brokers Ltd
Suite A01, The Long Lodge,
265-269 Kingston Road, Wimbledon,
LONDON, SW19 3NW

Tel: +44(0)208 819 3538

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