Supporting Small Business – The Way Forward
Opponents confuse the fact that we are fighting for social justice with an anti business rhetoric – and this couldn’t be further from the truth.
Social justice and pro-business objectives are not mutually exclusive – and we shouldn’t get confused by Tory dogma that they are.
I am 100% pro-business – particularly small and medium sized businesses – who are the lifeblood of our nations economy.
Labour made mistakes in the run up to the General Election 2015 – that cannot be denied. We firmly failed to get across the pro-business and pro-aspiration messages that so many of us genuinely believe in. We need to start fixing that immediately.
Whilst we hear media reports of bad business, such as bad behaviour by banks (surprise, surprise) and companies exploiting their workforce it is important for us the remember that this is not the norm.
There are many good businesses up and down the UK that we can be immensely proud of, of all sizes, that are contributing to the recovery of our economy.
It’s time we start supporting them, to enable them to go further and reward progressive business with the rewards that it deserves as business owners and their workforce’s do their bit, day in day out, to recover our economy and ultimately (hopefully) consign the impact of the Global Financial Crisis to a nightmare in the history books.
We need to support businesses, small and medium enterprises, up and down the country to grow and achieve the success that they and their staff are working for so that ultimately we can all share in an economic recovery that we can be proud of.
That’s why my pledge would be this:
The Small Business Rate Relief (SBRR) would be extended within the current frame-set of rules according to following.
The Rate Relief currently enjoyed by small business’ will be extended based on the percentage of employees being paid the ‘Living Wage’ (or above) as set each year by the Living Wage Foundation.
The Living Wage is currently £7.85 per hour (£9.15 per hour in London).
Small businesses’ will receive the current they discounts which will be uplifted as follows:
Where 25% of employees receive the Living Wage (or above) – +5%
Where 35% of employees receive the Living Wage (or above) – +10%
Where 50% of employees receive the Living Wage (or above) – +25%
Where 100% of employees receive the Living Wage (or above) – +50%
This means that the maximum available business rate relief available to small businesses’ under this extension to the Small Business Rate Relief (SBRR) scheme would be 100%.
This act would be renewable once every 5 years.