Labour has today warned that the Cost of Tory Chaos is hitting
business turnover, with newanalysis from the Labour Party
revealing that a staggering 1.1 million businesses (one in five)
report “economic uncertainty” as the number one factor negatively
impacting business turnover.
The analysis, based on Office of National Statistics surveying
this month, would mean that across the whole economy, 1.1 million
businesses in the UK are being impacted by economic
uncertainty.
Remarking on the survey results, Labour's Shadow Business
Secretary said: “What we are seeing
is the cost of Tory Chaos, with businesses being directly
impacted by political failure to create a stable and secure
economy”.
The analysis comes as and other senior Tories come
under scrutiny for their claims that the economy “turning a
corner”, despite the economy being hit by recession and prices
still rising in the shops.
Labour has previously put the total cost of Tory chaos at £8.2bn,
with 314 lost days, and at least eight u-turns. Labour's Plan for
small businesses include; legislating to tackle late payments,
replacing business rates for a fairer system, revitalising
Britain's high streets, boosting small business exports and
more.
MP, Labour's Shadow
Business and Trade Secretary, said:
“What we are seeing is the cost of Tory Chaos, with
business turnover being directly impacted by political failure to
create a stable and secure economy”.
“After 14 years of Conservative economic failure, small business
leaders tell us it is getting harder and harder to run a
successful business. All this ongoing Conservative chaos comes
with a cost as under the Tories we have a seen a huge number of
businesses having to close their doors for good.
“Labour will deliver the change and stability that business
owners need to prosper and grow by fixing business rates,
tackling late payments, boosting exports and giving small
businesses a fair chance at public contracts.”
Ends
Notes:
Labour's Plan for Small
Business will:
-
Legislate to tackle late payments going
further, faster than the Conservatives with tough new laws to
make sure small businesses get paid on time.
-
Scrap business rates for a fairer system to
reduce the burden on high street premises and not stand in the
way of firms who want to expand.
-
Revitalise Britain's high streets by tackling
anti-social behaviour by introducing new town centre police
patrols.
-
Boost small business Exports by publishing a
trade strategy and working alongside the Federation of Small
Business on a Small Business Export Taskforce.
-
Give a new direction for skills and addressing
skills shortages by creating Skills England and working with
local industry to ensure local people have the skills they want
including new Technical Excellence Colleges.
-
Get Britain building again by reform the
planning system to build 1.5 million homes over the Parliament
and removing the planning barriers holding business back
including grid connections.
-
Make Britain a Clean Energy Superpower and
cutting energy bills for small business and creating job
opportunities for tradespeople.
-
Make the UK the best place to start-up and
scale-up by unlocking the supply of patient capital
for technology-intensive businesses.
-
Provide a fair chance at public contracts to
give small and medium businesses fairer opportunities to
benefit from public contract bidding.
