Our prosperity ultimately depends on the success of business and commerce.
Every step must be taken to make our country the most attractive place to start, run, expand and invest in business. Government has a vital role to play in providing the right environment for enterprise. Excellent public services are a vital component.
Taxing UK based businesses makes no economic sense and, with globalisation, is increasingly unfair.
Rather taxing businesses, government should be helping businesses create jobs and prosperity. The prosperity generated by business will more than compensate for the loss of tax revenues.
We believe that money should be left with companies to do what business does best; to employ people and create wealth. Dividends would be taxed as income.
We will slash bureaucracy for both listed and unlisted companies. Audit and governance requirements will be limited to those essential for businesses to flourish.
We must transform Companies House and HMRC. The first official contact new companies receive concerns rules, regulations and tax. We want the focus to be on how government can help businesses establish and succeed.
Our growth and prosperity strategy will deliver right environment for businesses to succeed as never before.
The Peoples Party will:
- abolish Corporation Tax and exempt the first £30,000 of profit for the self employed from income based taxes. Dividends would be subject to Education and Health tax at source
- abolish Employers National Insurance contributions and Self Employed National Insurance contributions
- abolish Business Rates for small businesses
- abolish business red tape particularly in employment matters and replace with a “short” business charter
- limit the scope for commercial litigation
- introduce easy to secure start up loans for new businesses and do everything possible to encourage entrepreneurship
- introduce regional stock exchanges, allow companies to sell shares with the minimum of regulation, underwrite share issues to encourage new and expanding businesses
- ensure that innovation hubs, manufacturing centres and accelerators are established across the country