Dr. Craig Rose highlights the key business policies of the main parties. Click on the party name to link to their manifesto.
- Establish a £4 billion Finance for Growth Fund that will provide equity investment to high-growth potential firms.
- Introduce a Growth Capital Fund focusing on SMEs requiring investments ranging from £2-10 million.
- Create an Innovation Investment Fund that will target developing high-tech firms.
- Support R&D and university spin-out ventures through a Higher Education Innovation Fund and a new University Enterprise Capital Fund.
- Encourage the Regional Development Agencies to introduce a series of “regional growth funds”.
- Set up a Green Investment Bank to support low carbon infrastructure development and renewable energy projects.
- Provide incentives for companies to invest through R&D tax credits.
- Increase the capital allowances for “key growth sectors” such as manufacturing.
- Continued investment in skills and workforce training through initiatives like Train to Gain and the Future Jobs Fund.
- Scrap the Government’s planned National Insurance increase for employers.
- Create a new “Work for Yourself” programme that will give unemployed people mentoring and loans to start a new business.
- Focus R&D tax credits towards hi-tech companies, small firms and start-ups.
- Replace Train to Gain with a new skills development programme that will create 400,000 training places and apprenticeships over two years.
- Offer SMEs a £2,000 cash incentive for every apprentice they recruit.
- Set up a Green Investment Bank to fund low carbon industries and cleantech start-ups.
- Axe Regional Development Agencies in favour of council and business-led local enterprise partnerships.
- Open up government’s £200 billion a year procurement market and make it easier for SMEs to win public sector contracts.
- Cut the headline rate of corporation tax to 25p and the small companies’ rate to 20p.
- Make small business rate relief automatic.
- Ensure new businesses don’t pay any National Insurance on the first ten employees they hire during their first year of trading.
- Refocus UK Trade and Investment’s support and funding towards high priority sectors.
- Launch a one-year £3.1 billion job and green stimulus package with the aim of creating 100,000 new jobs.
- Set up a Creative Enterprise Fund offering training, mentoring and small grants to get creative sector firms off the ground.
- Use government procurement power to expand markets for green products and technologies.
- “Break up the banks” and develop a diverse range of local and regional sources of business finance.
- Fund a work placement scheme to ensure up to 800,000 young people can develop their skills and gain work experience.
- Reform Regional Development Agencies so that they focus solely on economic development.
- Establish an Infrastructure Bank to directly fund key transport projects and support the shift to a low carbon, sustainable economy.
