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Conservative party pledges to help small businesses

In the run-up to the next general election it seems that the small business arena, the engine room of the future UK economy, will play a very prominent part in election campaigns. Today saw the Conservative party jumping onto the bandwagon amid suggestions that they would amend the current small business taxation system which is, in the view of many, over expensive and overbearing, if they gain power.

There is no doubt that under the Labour Party there have been a number of new tax regulations introduced with regards to small businesses, but many of these were introduced to close tax loopholes which many people have benefited from. However, in the process, layer after layer of additional regulations have been built into the UK economy which are holding back many businesses and indeed making many entrepreneurs think again about going self-employed.

As a consequence, the Conservative party has now channelled into this feeling of concern among small business owners with promises to strip away many of the complicated regulations and tax laws associated with this area of industry. Whether they will actually be able to deliver on their promises remains to be seen but there is no doubt that the small business arena is set to play a prominent part in the forthcoming general election.

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