Politicians from both the Conservative and Labour parties are laying out plans for what they will do for small businesses, should they get into power at the next general election, at the Federation of Small Businesses’ (FSB) 40th anniversary conference being held in Manchester at the moment.
Chancellor George Osborne who has already spoken, emphasised the Government’s introduction of the Employment Allowance and the doubling of the annual investment allowance, while Ed Miliband will argue later today (March 28) that small businesses are being “held back by the worst cost of living crisis for a century”.
Mr Miliband will also call for fresh controls over energy prices in a move designed to increase support for the 20-month price freeze announced at the Labour conference, which, he will say, could save small businesses over £5,500 a year.
The Labour leader will say that his party will recognise that millions of working people are self-employed, so Labour would free entrepreneurs from high energy prices, uncompetitive markets and skills shortages if the party came into power.
Other business-friendly measures he would introduce include giving a new energy regulator power, which would be brought in to replace Ofgem, to enforce a ban on suppliers rolling corporate customers over to more expensive tariffs without their consent.
He would also give the FSB new legal rights to take cases to court on behalf of its members, which could include cases of late payment by other firms or by government departments.
In his speech, Mr Osborne said that the success of small businesses is key to the Government’s long term economic plan, which is why he is introducing the Employment Allowance, a £2,000 cash back allowance on jobs for every small business, and doubling the annual investment allowance from the start of the new tax year.
