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FOR THE AVOIDANCE OF DOUBT

It would seem that there have been various commentators suggesting, quite erroneously, that the Conservatives don't have any policies to get the country out of recession.

Whilst that may suit the spin emanating from No 10, nothing could be further from the truth. Indeed, the Conservatives have already announced as series of policies for growing the UK economy whilst the UK Government remains largely silent on the issue.

For the avoidance of any doubt, these include the following policies which have already been announced by David Cameron, George Osborne and Ken Clarke:
  • Creating the most competitive corporate tax environment in the G20 and starting by cutting the headline rate of corporation tax to 25p and the small companies’ rate to 20p, funded by reducing complex reliefs and allowances.
  • Making the UK a more attractive location for multinationals by simplifying the complex Controlled Foreign Companies rules
  • Improving the corporate tax system by consulting on the merits of moving towards a territorial corporate tax system that only taxes profits generated in the UK.
  • Improving Intellectual Property protection by creating the most attractive tax environment for intellectual property of any major economy that will encourage intellectual property to reside in the UK.
  • Restoring the tax system’s reputation for simplicity, stability and predictability by setting out a five year road map for the direction of corporate tax reform, providing greater certainty and stability to businesses.
  • Reducing the burden of red tape on business with a ‘one in one out’ rule for new regulations, mandatory sunset clauses and regulatory budgets for departments.
  • Making it easier to start a business by reducing the number of forms needed to register a new business and moving towards a ‘one-click’ registration model with the aim of making Britain the fastest place in the world to start a business.
  • Helping social tenants start their own businesses by ending restrictions on people starting a business in social housing, to enable social tenants to become entrepreneurs.
  • Helping small businesses win more government contracts by opening up government procurement to SMEs by reducing administrative requirements.
  • Create a presumption in favour of sustainable development in the planning system, with incentives for local communities to foster a pro-development culture, greater certainty for developers with a single unified local tariff, and a fast track process for major infrastructure projects with inquiries subject to binding timetables.

I am sure other equally impressive ideas will emerge over the next few weeks, especially when Sir James Dyson gets his task force on high technology manufacturing gets into gear but this is seriously long way from the 'lack of Tory business policies' line which has gone out largely unchallenged by those who should know better.

Perhaps those commentators will now focus on what Labour will do to get the country growing - or will we have to wait until the Budget for any such ideas to emerge?

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