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Labour: The nightmare of small business

general election energy

A Labour-led government would put small businesses at risk and lead to a mass sell-off by investors, Goldman Sachs warned last night.

The investment bank stated that a Labour victory would be viewed as “more problematic by the business community” than a Conservation re-election.

Indeed Ed Miliband, it seems, is almost trying to wipe out small business owners with a series of short-sighted policies that could bring about bankruptcy and closures nationwide.

We’re a far cry from the Ed who stated that:

“Small businesses are the engine of our economy and the lifeblood of our local town centres.”

As much as 96% of the UK private sector is made up of small businesses generating one-third of private sector turnover. Yet Labour are proposing to reverse the Conservatives cut in corporation tax.

Has Ed lost his ‘ead?

This recent news has earned poor Ed a tirade from over 100 prolific business owners in a personally signed letter, in addition Ed (Number 2) Balls’ failure to name a single business supporter of Labour adding fuel to the fire that Labour is dangerously out of touch with business, particularly small business.

The business leader’s letter said:

“We believe this Conservative-led Government has been good for business and has pursued policies which have supported investment and job creation.

“David Cameron and George Osborne’s flagship policy of progressively lowering Corporation Tax to 20% has been very important in showing the UK is open for business.

“We believe a change in course will threaten jobs and deter investment. This would send a negative message about Britain and put the recovery at risk.”

The truth is Miliband set out his stall years ago when he over simplistically talked of good business and bad business, without having given the slightest thought to how the differentiation could or would be measured.

Since that point Miliband, a multi millionaire despite never having worked in any business in any capacity, has lumped small and big business together as a scourge of society. This is simply bizarre, unhelpful but more importantly hugely dangerous.

To quote Miliband again:

“Small businesses are the engine of our economy”

Cut the soundbites Ed and recognise the reality.