What to expect in the upcoming 2015 general election
3 min read
01 April 2015
Parliament has officially been dissolved and with only two months to go before the general election, political rhetoric is heating up. In an attempt to establish policy differentiation, all parties have articulated potential legislative change for various sectors.
The manifestos and future plans of all competing political parties are set to be laid out ahead of the 7 May general election, with entrepreneurs and companies alike weighing each announcement as a hurdle or political success on a theoretical scale.
So far the election presents a number of potential risks to businesses and financial markets.
A Conservative victory will bring with it the scary prospect of a referendum on Britain’s membership of the EU. This prospect has the potential to be heightened by the wave-like popularity of UKIP. But perhaps the biggest worry is general uncertainty.
Business leaders including Luke Johnson, Sherry Coutu and Duncan Cheatle have already voiced their concerns and let politicians know what they want from the next government.
To this effect, from settling on a debate schedule to relating the shocking comebacks made by political leaders, as well as the viewpoint of numerous business leaders themselves, Real Business will be following the progress of political campaigns, votes and polls, as well as how each party will promote the interests of British businesses.
Read more about the general election:
- The great race to exploit Entrepreneurs’ Relief
- British FDs favour a majority Conservative government
- General election and possible EU exit “causing anxiety” for business investment
Some of the most recent news includes the Conservatives announcing a complete review of the business rates system in 2016. Ambassador for women Lorely Burt explained that the Liberal Democrats would scrap business rates, only to replace them with a Land Value Tax.
And the Conservatives have leaked several policies that may well be on the cards if they are elected. The party plan to introduce a British Bill of Rights to restate the Human Rights Act 1998, introduce a “Modern Slavery Bill” in order to prevent the trafficking of workers, and end zero-hours contracts.
UKIP have announced plans to ‘shrink’ the Department for Business, Innovation and Skills, which could have a significant impact on both employers and employees. They have also suggested initiating compulsory enrolment for individuals claiming JSA on ‘community schemes’ and ‘return to work training’.
Labour has revealed its business manifesto, detailing how it will go about supporting “productive, growing and profitable firms” if it is elected to government and how it plans to put into place a rule requiring employers to offer staff a permanent contract after three months of a zero-hours version.
Whatever is hinted at or unveiled from a business perspective in the next month or so, Real Business will be right there.