Policy stability lets firms plan for growth

When we speak to our chamber businesses, and for that matter all firms far and wide across the county, and ask them what they most need from government, the answer is not what you might expect.

It’s not ‘more money, less tax’, it’s simply certainty. Certainty in terms of policy, subsidies, funding, the way the wind may blow next week month or year in favour of their EVs or their pubs and restaurants.

It seems in so many ways a death of 1,000 cuts.

From employment law burdens and minimum wages, to national insurance, business rates and exporting paperwork. Support for a sector one minute – withdrawn the next.

The political and policy left hand doesn’t seem to know what the right hand is doing – look at the rollercoaster of contradicting measures concerning the hospitality sector, government giving with one hand whilst taking with the other.

Business owners by and large don’t feel entitled to charity and nor do they expect it, but they do want policy stability, to be
able to plan ahead, feel confident enough to invest, knowing they will get a return.

And that used to be a contract government had with business too.

It was a balanced equation in the main, government invested in business support, in innovation stimulation, and business owners were able to grow new revenues, and government taxed the profits. But now, we seem to just get the take, take, take with no stimulation investment.

This is government deciding to kill the golden goose.

It’s akin to a caveman forgetting the secret of fire.

We are going backwards and that covenant with business for mutual growth is broken.