Following the 2014 Scottish independence referendum, the Scottish National Party (SNP) have moved away from a core theme of independence and focus more on how Scottish presence in Westminster can influence the UK toward “a better, more secure future.”
The last of the big six to release their manifesto, the SNP have some firm ideas when it comes to business and finance:
Reintroduce the 50p top tax rate
Meaning those earning above £150,000 will be taxed at 50p, instead of the current rate of 45p. This pledge is matched by Labour.
Tax bankers bonuses
Tackle tax avoidance including early legislation to address tax dodging and an increase in staff resources at HMRC.
Increase the minimum wage to £8.70
An increase of £2.20 per hour from the current rate of £6.50 for those over 21.
Support an increase in the Employment Allowance from £2,000 per business per year to £6,000 per business per year, reducing the cost of creating and maintaining jobs.
The Employment Allowance allows businesses to forego their first £2,000 in employer National Insurance contributions and has been popular since it’s introduction by the current coalition Government. An increase to £6,000 would mean a business could take on three employees on a salary of £21,000 and pay no Employer National Insurance contributions whatsoever.
Press the UK government to introduce effective legal protections to ensure small businesses are paid on time.
Support targeted reductions to employer’s National Insurance contributions to support job creation and the extension of the Living Wage.
Ensure that women are fairly treated at work with action to secure equal pay – push for 50:50 representation on public and private boards.
Greater support for working parents with increased paternity leave.
Protect the Small Business Bonus, ensuring £450 million of support for small businesses
The Small Business Bonus is a scheme launched by the Scottish Government to offer relief from Business Rates for smaller firms.
What do you think?
Explore the other manifestos
Photo by Ninian Reid