Liberal Democrats Launch Plans to Boost British Business

2.31.34pm GMT Mon 21st Mar 2005

Malcolm Bruce MP, Liberal Democrat Shadow Trade and Industry Secretary, today launched his Party's manifesto for Business. The new plans pledge to free British businesses from red tape and government interference, and to lower the burden of taxation and regulation on small and medium enterprises through a new Business Rates Allowance. He said:

Malcolm Bruce & Susan Kramer launch manifesto to set business free

"With nearly a million manufacturing jobs lost since 1997 and continuing record balance of payments deficits it is clear that if the state of trade and industry in the UK is the problem, the Department of Trade and Industry is not the answer.

"We want to simplify the business environment. Abolishing the DTI and transferring its useful functions to other Departments will be the biggest single act of deregulation in history.

"Central Government business support schemes are often bureaucratic, expensive in time and money and unfair. Most businesses want advice and support accessible on the ground where they operate.

"Task forces, working parties, challenge funds, central grants and loans require an army of civil servants and take away valuable executive time from key business tasks or require the use of expensive consultants.

The manifesto seeks to "simplify the business environment."

"Small businesses currently pay much more of their turnover in business rates than larger companies. We think this is unfair. We will introduce a Business Rates Allowance which will deliver relief on business rates for smaller businesses. As a result of our policy the average small business will save over £600 on their annual rates bill."