IoD calls for cuts in tax and red tape for business

The Institute of Directors’ election manifesto calls on the
next Government to reduce the tax burden to allow owners and managers to
increase investment in their businesses.

The IoD’s policy paper, A Framework for Competitiveness:
Manifesto for Small and Medium-Sized Enterprises, states that lower tax rates
would encourage more entrepreneurs to set up and develop their own firms and
help to attract overseas investment into the UK.

It also highlights the need to cut the amount of red tape
facing employers and stresses that new regulation should be introduced as a
last resort.

The IoD believes ministers should be under a duty to
consider alternatives to regulation such as codes of conduct, before
introducing additional legislation.

The manifesto states that guidelines to regulations for
employers should be succinct and greater use of “sunset clauses” should be made
in legislation so that unless regulations are specifically renewed they will
cease to apply at a set date.

The IoD wants the Government to give employment tribunals
greater freedom in awarding costs to those employers who are exonerated at
employment tribunal hearings in order to compensate tem for legal expenses they
might have incurred when defending cases.

The organisation also says priority must be given to raising
standards of literacy and numeracy and equipping pupils and students with IT
skills.

Its manifesto states that the new Small Business Service
should assume responsibility for all future Government schemes to support
business and they should be delivered via the revamped Business Link network.

 

 

 

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