In the first of a three-part series about the General Election, we examine proposals put forward by the British Chambers of Commerce (BCC).
With less than 48 hours to go until the UK electorate begins casting votes, the BCC has challenged the next government (whoever wins) to adopt its 90 day plan for business growth.
The plan comprises twelve measures which, according to the BCC, must be implemented by the next government if the economic recovery is to continue.
The measures include helping to mend the public finances by freezing the public sector wage bill; maintaining investment in productivity-boosting infrastructure, a moratorium on costly new employment laws; and boosting exports with a short-term export trade finance scheme, to help companies rebalance the economy.
The question for voters with business interests is which of the parties are likely to implement the measures if they win a majority on Thursday. The Conservative party has pledged to freeze the wages of all but the 1 million lowest-paid public sector workers, but the Labour party is generally considered most inclined to continue spending.
David Frost, Director General of the British Chambers of Commerce, said that regardless of which party gains power – or whether there is a hung parliament – the new government must be “crystal clear” about where spending will continue, and where it will be cut. “During the first 90 days after an election, an incoming Government must make concrete proposals to reduce red tape and tax burdens on business; review how to move the economy away from an over-reliance on consumption and the public sector; and commit to improving Britain’s energy, transport and digital infrastructure,” he said.
We’d love to hear your views on the BCC’s proposals and indeed on which party you feel represents the interests of the business community. Please feel welcome to leave a comment, below.