10 policies for UK economic growth

Conservative MP for Dover and Deal Charlie Elphicke has set out 10 policies he wants to see introduced in the Budget to boost growth.

For supporting larger businesses he suggests:

• Reducing the main rate of corporation tax to 19 per cent;
• Abolishing stamp duty on share transactions;
• Making changes so the UK becomes the corporate headquarter centre of Europe, including a tax rule to say foreign profits or interest payments brought into the UK by subsidiary business will not be taxed or deemed to be brought into the UK and taxed if held overseas.

For smaller businesses he suggests:

• Reforming UK trade and investment to enable SMEs to expand overseas more rapidly;
• Floating the smaller businesses growth fund on the London Stock Exchange;
• Lower capital gains for business assets or expansion of entrepreneur’s relief;
• Expanding specific reliefs for entrepreneurs and small business investors

The changes he recommends for regulatory reform are:

• The extension of the new enterprise allowance;
• The creation of transition enterprise zones;
• Less stringent employment law, including capping maximum compensation claims at the level of average earnings.

Source: http://www.moneymarketing.co.uk

Free Resources

Related posts:

The UK economic growth slowed in the fourth quarter The UK economic growth slowed in the fourth quarter of 2010, raising concerns about a sustainable recovery ? it expanded by 0.4%-0.5%, a slowdown on the...

Small manufacturers experience growth Stronger demand and companies rebuilding stocks of goods helped boost production among the UK’s smaller manufacturers during the last quarter, according to the Confederation of...

UK private businesses want a stable tax regime that supports and encourages growth • Two thirds don’t believe the UK’s tax regime supports and encourages enterprise • Less than 20% agree that government actions the concerns of private...

Ten tips on social networking policies Are you struggling to tear your employees away from sites such as Facebook, Bebo and Twitter? Here are ten top tips on drafting the necessary...

ICAEW guide to taking advantage of economic upturn The Institute of Chartered Accountants in England and Wales (ICAEW) has published guidance on how businesses can take advantage of the economic upturn when it...