Conservative Party policy on business

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Small Businesses

In an article for The Observer on 19th October 2008 David Cameron began a number of policy announcements to help families, homeowners and entrepreneurs.

He highlighted four ways to help "small and medium-sized businesses [who] employ over 13 million people and turn over £1,440bn a year":

• More local authorities should make faster payments to small business. Mr Cameron highlighted Brentwood and Castlepoint for leading the way in reducing payment periods from 30 to 20 days.
• Better treatment for small business from the banking sector in recognition of the help that the taxpayer has provided for banks.
• Quicker tax rebates for small businesses - delayed by "Bureaucracy in the Treasury".
• "Today we are calling on the government to allow small and medium-sized enterprises to defer their VAT bills for up to six months. That means a typical small business with 50 employees, revenues of £5m and an annual net VAT bill of £350,000, doesn't have to find £90,000 to pay the taxman when the bank has just taken away its overdraft."

Mr Cameron's intervention coincided with a declaration by Alistair Darling that Labour aimed to spend its way out of recession by fast-tracking expenditures on capital projects.