Small business calls for post-election clarity and credible governance system

Small businesses have urged politicians to come up with a credible system of governance as the country is on track for a hung parliament.

The Forum of Private Business (FSB) is calling on MPs to put aside their differences and create a functioning administration as soon as possible.

No party looks set to win an overall majority at the polls, meaning the UK is on track to have a hung parliament for the first time since 1974.

The organisation has echoed concerns from other business groups, including the British Chambers of Commerce, that uncertainty and confusion caused by a hung parliament will jeopardise the UK’s economic recovery.

FSB chief executive Phil Orford said: “I expect many smaller businesses will be disappointed that the election has resulted in a hung parliament.

“However, the outcome can’t be changed so it is vital that the newly-elected MPs put aside party politics and work together to come up with a credible system of governance.

“With the economy still in a very precarious state and a mountain of public debt to be tackled, business owners need our elected representatives to move away from inter-party point-scoring and show political responsibility.”

The FSB made renewed calls on the next government to completely scrap the planned rise in national insurance contributions. The Conservatives have pledged to cut the rise for the lowest-paid workers.

A recent FSB survey found that 68% of small businesses felt that the tax burden was already unfair for small employers, and 65% said that taxes overall were a serious problem for their business.

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