Today representatives of business will meet the Prime Minister to discuss the government’s growth strategy. The government is keen to stress that it understands the need for growth, to generate the jobs to get people back to work, and to generate all the extra tax revenue they have forecast to pay the big bills for the public sector.
The following are things whcih business could ask for which would help:
1. The introduction of a fuel tax regulator, to prevent large price increases on fuel that occur when tax and oil price go up at the same time.
2. More competitive levels of Income Tax and Capital Gains Tax. Lower rates would doubtless bring in more revenue as well as encouraging more business.
3. Better transport systems, through spending what public money there is available on projects that remove capacity bottlenecks on roads and rail. This could be allied to private finance initiatives to increase overall net work capacity.
4. Cheaper power, through a programme of permits and incentives for modern more fuel efficient power stations.
5. Informed purchasing by government, that allows local companies to compete for sensible sized contracts that they might win and be able to fulfill.
6. Weeding out more of the quango state which imposes too many penalties, charges and restrictions on business.
7. Review of employment law, so we can have one which is fair to employees but does not deter the offer of more jobs, especially by smaller businesses.
8. Changes to bank regulation and bank management in the public sector, so there is a better supply of finance for small and medium sized enterprises.
9. A general review of regulation to concentrate on what is really necessary.