“Britain only succeeds when working families succeed” – a sentence that sums up the recently-launched Labour manifesto.
But what about Labour’s plans for small businesses, startups, contractors and freelancers? In summary, Labour are looking to cut and freeze business rates, increase the minimum wage, ban “exploitative” zero-hour employment contracts and boost lending for small business .
Here are the key points:
Cut business rates in 2015 and then freeze them in 2016 for over 1.5 million business properties.
Bring back the 50p top tax rate
This refers to the Additional Rate of Income Tax (paid by those earning over £150,000 per year) – when Labour were last in power this rate was 50%, but the coalition reduced it to 45%.
Reform the banking system, taxing bank bonuses and increasing competition with at least two new challenger banks on the high street.
Create a million new high technology, green jobs by 2025.
Increase the National Minimum Wage to £8 an hour before the end of the Parliament.
An increase of £1.50 from the current rate of £6.50 – but broadly in line with recent rises.
Ban exploitative zero hour contracts
Reform the employment tribunal system to ensure workplace justice is affordable
Abolish the loophole that allows firms to pay agency workers less than permanent staff
Introduce a British Investment Bank – boost lending for small businesses to grow
Equal rights for the self-employed
What do you think?
Explore the other manifestos
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