We know that our prosperity depends on the success of business and commerce. We must free business to deliver growth.
|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|
|ensure that London as a financial centre is not held back by outdated practices|
|introduce regional stock exchanges, allow companies to sell shares with the minimum of regulation, underwrite share issues to encourage new and expanding businesses. Do all that we can to spur investment in new and existing firms|
|ensure that innovation hubs, manufacturing centres and accelerators are established across the country|
Every step must be taken to make Britain 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 one essential component.
Taxing UK based businesses makes no economic sense and, with globalisation, is increasingly unfair, international agreements notwithstanding. Money should be left with entrepreneurs and companies to do what business does best; invest in creating wealth.
Instead of taxing business, the government should be helping companies provide well paid jobs and prosperity. The extra wealth generated will more than compensate for the loss of business taxes, with the decline in welfare payments reducing the need for tax revenues.
We must slash bureaucracy for both listed and unlisted companies. Audit and governance requirements must be limited to those essential for businesses to flourish. We must transform the approach of 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. We must make available loans and grants on easy terms, with minimal form filling.
Our growth and prosperity strategy will deliver the right environment for businesses to succeed as never before.