The Conservatives are the only Party on the side of the business community. We recognize the enormous value of entrepreneurship. Since 2010 there are 760,000 more businesses. We have also issued over 27,000 start-up loans. Each and every one of these entrepreneurs is a job creator. Despite this substantial progress, there is still more to be done.
Small businesses historically have come up against endless red tape, through which they must navigate. We are the first Government in modern history to reduce the burden of regulation. We have come a long way since 2010, saving businesses more than 10 billion pounds and over the next Parliament we will cut a further 10 billion pounds of red tape through our Red Tape Challenge and our One-In-One-Out rule.
We have already cut Corporation Tax from 28% to 20%, reduced National Insurance bills and capped the rise in business rates. We are extending 100% Small Business Rate Relief and are providing extra support for high street shops by increasing the business rates retail discount to £1,500.
We have reformed the employment tribunal system to lift the weight off small business owners and supported 27,000 new business mentors whose job it is to set entrepreneurs on their way. We are making the Office of Tax Simplification a permanent fixture as it has already shown promising results. Not stopping there, we are also backing the GREAT campaign in a bid to hit our target of 100,000 more UK companies exporting in 2020 than in 2010.
All this should more that prove that when it comes to business and small businesses, the Conservative Party are on your side.
Rt. Hon Grant Shapps
Conservative Party Chairman
I grew up surrounded by my family’s small business, so I know that what you do isn’t just a job, but a whole way of life. Your hard work has driven this recovery and we are determined to keep backing your aspirations. But we need your help.
In the last five years we’ve built one of the most competitive business tax regimes in the world and we intend to keep it that way. We will maintain the lowest Corporation Tax in the G20, and continue with our landmark Employment Allowance. We will also conduct a major review of business rates by the end of the year, to ensure they properly reflect the structure of the modern economy.
But it’s not just about government doing less. On skills and access to finance we are unashamedly interventionist. We’ve created 2.2 million apprenticeships so far and will help businesses deliver 3 million more. This includes abolishing employer NICs on young apprentices under 25. We are determined to tackle the scourge of late payment, so we will strengthen the Prompt Payment Code and set up a Small Business Conciliation service to mediate in disputes.
We want to make Britain the best place in Europe and in the top five worldwide for ease of doing business. But the job isn’t done and Labour, with their plans for more spending, higher borrowing and higher taxes, would put it all at risk. You can make a difference though. By signing our Small Business Letter, you can add your voice to thousands of small firms in calling for us to have the chance to finish what we’ve started. As Britain’s job creators, your views carry huge weight and this election is too important stay silent.
We believe we can make Britain the most prosperous of any major economy, and we will do it by backing you to every step of the way.