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Majority Government brings hope of stability to small firms

Following last week’s General Election, which saw the Conservative Party secure a sizeable majority in the House of Commons, FSB is urging the incoming administration to deliver on the pledges it has made to the small business community in recent weeks. 

Through publication and promotion of its 2019 Back to Business manifesto FSB secured a raft of commitments to small firms from all major parties in the run-up last week’s vote. 

Conservative pledges included: 

Ending the late payment crisis through re-introduction of a reform package put on pause by the election.

  • Helping small firms with spiralling labour costs and expected Living Wage rises by increasing the Employment Allowance.
  • Extending and expanding existing business rates discounts, while launching a full review of the hugely burdensome business rates system.
  • Launching a self-employment review to help those struggling to access pensions and mortgages.
  • Delivering full-fibre, gigabit broadband.
  • Putting £2 billion towards fixing potholes.

FSB National Chairman Mike Cherry said: “Small business owners will be hoping that this majority government helps to bring stability back to the economy.

“After more than three years of Brexit absorbing government bandwidth, the Conservative Party has pledged to tackle the many domestic challenges that have been neglected during that time.

“This incoming administration has listened to small businesses on bread and butter issues. It’s now time to turn kind words into tangible action.

“Over the coming days, we’ll be scrutinising the government’s agenda for the year as set out in a fresh Queen’s Speech, examine its revised Brexit Withdrawal Bill, and begin to look ahead to a Budget in the new year.  

“This government needs to deliver a business-friendly Brexit, one that protects the three t’s: trade, talent and a proper transition. The third of those is absolutely critical. We have to avoid a scenario where we suddenly crash out of the EU with no time for small firms to prepare for what’s coming next. 

“Equally, this new administration must not lose sight of the domestic issues it’s promised to address. Not least a late payment crisis that destroys thousands of small firms every year at a cost of billions of pounds to the economy.”