Business leaders clear that Tory policy on Brexit is against wishes of majority

Lib Dem Business policies on Europe vs Tory policies

More than 50 business leaders have backed the Lib Dems as the only party which is “speaking for the majority of Britons” by campaigning to stay in the European single market, saying that the Conservatives policy on Brexit is bad for business, bad for the economy and against the wishes of the majority of Britons

Richard Reed, the co-founder of Innocent Drinks and board member of Britain Stronger in Europe, Dinesh Dhamija, the founder of the Ebookers travel site and the businesswoman Nicola Horlick are among the signatories, calling for Britain to stay in the European single market and customs union.

They have warned, in a letter to The Times, that Britain’s departure from the EU is being run by “hardcore Brexiteers” who have failed to recognise public support for staying in the single market or customs union.

The 53 signatories, who say they intend to vote Lib Dem, include senior players in the investment and IT sectors, two industries that could be hit by a poor Brexit deal. They represent small and medium-sized businesses (SMEs) rather than FTSE 100 companies.

“The Conservatives’ failure to even mention a transitional deal threatens Britain’s status as one of the best countries in the world with which to do business,” the letter reads. “While we may not have voted Liberal Democrat in the past and we may not agree with the party on all issues, they are now the only party speaking for business and the majority of Britons on the key issue at this election.”

It comes after the Conservatives scrapped the election tradition of organising a letter signed by business leaders to demonstrate support.

Vince Cable, a Treasury spokesman for the Lib Dems, said: “The Liberal Democrats now have support from a large number of serious figures in the business community showing that we are rapidly emerging as the party of business, big and small. Theresa May’s determination to take us out of the single market would devastate our financial sector while taking us out of the customs union would cause incalculable disruption to our manufacturing sector.”

The full text of the letter is below…

LIB DEMS AND THE SINGLE MARKET

Sir, We represent a broad range of businesses across the UK collectively employing tens of thousands of people. As business leaders and owners, we believe that leaving the single market and the customs union would be destructive to the British economy and to our businesses.

At present, we have full access to a market of 500 million customers and the best and most skilled workers across the EU. If we leave the single market, thousands of businesses would lose their competitive edge.

We cannot stand by while our country’s future is hijacked by hardcore Brexiteers who do not represent the views of the majority. Polls show two thirds of voters believe staying in the single market should be the priority, and three-quarters want EU citizens working in the UK to continue to be allowed to do so.

The Conservatives’ failure to even mention a transitional deal threatens Britain’s status as one of the best countries in the world with which to do business. While we may not have voted Liberal Democrat in the past and we may not agree with the party on all issues, they are now the only party speaking for business and the majority of Britons on the key issue at this election.

The simple fact is that we can’t have both a hard Brexit and a strong economy. We choose a strong economy. That’s why we will be voting for the Liberal Democrats.

David Angell, director, Peter Bennett-Jones, PBJ Management, Roger Billins, director, RB Law Limited, Lee CameronProfessor Chris Bones, chairman, Good Growth Limited, Simon Clement-DaviesGeorge CoelhoJeremy CookSimon Curtis, senior maritime lawyer, Peter Crystal, senior lawyer, Stephen DawsonAlex DaleGuy De Selliers, vice-chairman of group board, Ageas, Dinesh Dhamija, founder, Ebookers, Jay Dias, founder and managing director, Leela Capital, Andrew Dixon, managing director, ARC InterCapital, Craig FletcherJohn Forbes, partner, John Forbes Consulting LLP, Jessica Frankopan, co-founder, Curious Group of Hotels, Kevin Gibson, founder, Hanzo Archives, Stephen Goldstein, chairman, Alexander StevensPeter Guilford, co-founder and executive chairman, G+ Europe, Tony Harris, angel investor, Paul Hennemeyer, managing director, Tom Hogg, chairman, Cheshire Datasystems Limited, Nicola Horlick, CEO, Denmark Square Limited, Leslie Hurst, Melissa Johnson, director, Cheshire Datasystems Limited, Phillip Kerle, co-founder, Tranzacta Ltd, Adam Knight, co-founder and board director, Social & Sustainable Capital, Robert Laurence, CEO, Resolution Property, Paul LucraftTilly McAuliffe, co-founder and non-executive director, Think, Carl Michel, chairman, Firedrop.ai, Turi Munthe, partner, Jo Owen OBE, Tim Parlett, co-founder, Zopa, Mark Petterson, executive director, Warwick Energy Limited, Neil Phoenix MBE, founder, FRICS, Alex Proud, CEO, The Proud Group, Professor Nathu Puri, founder, Purico Group of Companies, Richard Reed, co-founder, Innocent, Mark SainsburyRodney Schwartz, co-founder and CEO, Clearlyso, Rahul Sharma, CEO, Careline Lifestyles, Richard Steer, chairman, Gleeds, Peter Tuvey, managing director, Fleximize, Justin Urquhart-Stewart, co-founder and head of corporate development, Seven Investment Management, Madeleine Weightman, co-founder, The Work Crowd, Ben Whately, co-founder and COO, Memrise, Joseph Zammit-Lucia, CEO, Clinical Insights

Lib Dems will cut youth unemployment

judith bunting  thatcham 099

Above: With Courtney from Thatcham, an apprentice at the Thatcham Automotive Academy, which trains youngsters from across the UK for the motor repair and insurance industries.

The Liberal Democrats aim to see an extra 100,000 young adults into work through on the job training such as an apprenticeship or full-time education. This week, Nick Clegg outlined a plan which focuses on cutting youth unemployment cut to its lowest levels since records began.

This announcement is critical for Newbury and West Berkshire. Our high achievers here do well, and we are rightly proud of what they achieve. The increasing number of NEETS in our area is worrying, however (Youngsters Not in Education, Employment or Training).

If I am elected to Westminster, I am determined to see the number of unemployed youngsters in our area drop.

Liberal Democrats believe in spreading opportunity to everyone, no matter what your background. The opportunity to work and have a fulfilling and rewarding career is crucial to this.

In a future government, Nick will launch a Youth Unemployment Action Plan. He will also set up a new Youth Unemployment Task-force within the first 100 days of government to fast-track getting young adults back into work.

In Government we created two million new jobs and two million more apprenticeships. We have reduced youth unemployment, but it’s still too high and there is much more to do.

I remember hearing Vince Cable talking about the importance of apprenticeships long before we were in government. Now we want to double the number of businesses taking on apprentices, open up work experience opportunities, transform careers advice and, across the UK, invest millions into mental health services.

Youth unemployment was rising long before the financial crash. It increased by a third under Labour. The Conservatives risk making things much harder for young people by stripping them of jobseeker’s allowance and housing benefit. 

Only the Liberal Democrats have a comprehensive plan to tackle the scourge of youth unemployment.

Tax Dodging – actions taken in government

JB with VC 241112

I’ve had a lot of correspondence about Tax Dodging and thought it might be helpful to share my response more widely.

Letter to constituents:

The vast majority of people and businesses in the UK pay their taxes on time and in full, but there are always some who try to get away without paying their fair share. This is morally wrong and damages our economy and public finances. I have voiced my feelings on these matters on my website, here: https://judithbunting.co.uk/2015/02/13/taxation-is-payment-for-services-rendered and here: https://judithbunting.co.uk/2014/12/03/its-paying-tax-that-is-the-moral-duty/.
In government, the Liberal Democrat Chief Secretary to the Treasury, Danny Alexander, and Vince Cable in BIS have been tackling tax avoidance as a top priority. They have made progress on many of the issues you raise. Since coming into Government in 2010 he has led a crackdown on tax avoidance and evasion that is closing loopholes and making more people pay up. I remember hearing Vince Cable talking about his determination to close loop holes in 2010 and am really pleased that he’s been able to follow through on many levels. The changes made include: 
  • the introduction of a General Anti-Abuse Rule (GAAR), which goes much further than the current anti-abuse rule and is well on the way to being the kind of Tax Dodging Bill you are after;
  • strengthening the Disclosure of Tax Avoidance Schemes (DOTAS) regime; 
  • introducing a tougher monitoring regime and penalties for high-risk promoters of tax avoidance schemes; 
  • investing almost £1bn in HMRC to tackle tax avoidance and giving them the power to collect disputed tax bills up front (thus removing the incentive for tax avoiders to delay and frustrate HMRC’s efforts to settle disputes) 
  • recruiting 2,500 extra members of staff to work on tackling tax avoidance 
  • opening a new Large Business Directorate last year to deal specifically with the tax affairs of the 2,100 largest firms in the UK. 
  • There is clearly much more to do at home and abroad, but I am proud of the work that Liberal Democrats have done in Government to close loopholes and force tax cheats to pay more of their fair share. Thanks to the steps we have taken, the tax yield for this year, alone, will be around £9bn more than when we came into Government in 2010. 
Our party is determined not to let up in the fight against tax cheats. If we are in Government again our aim is to make progress on this agenda in every Budget and every Autumn Statement of the next Parliament.
We will continue to invest in HMRC, as we have done in Government, to enable them to do more to tackle tax evasion and avoidance. We will also introduce a range of other measures, including a General Anti-Avoidance Rule, which goes even further than the current anti-abuse rule. 
 
I understand the Government has also taken specific action to get back money lost in Swiss bank accounts. HMRC is working systematically worked through all the HSBC data that it has received and has so far brought in more than £135m in tax, interest and penalties from tax evaders who hid assets in Swiss HSBC accounts. 
It’s not enough, though. We need a shift in society to see taxes as payment for services rendered, rather than some kind of penalty. Do please pass that message on to your friends and neighbours. 

 

Flying the Flag for Newbury Business

June 9th, 2014

 

Judith Bunting with Vince Cable at the Bloomberg Keynote Speech
Judith Bunting with Business Secretary, Vince Cable at the Bloomberg Keynote Speech

At Nick Clegg’s recent keynote speech in London today Judith Bunting asked what the government could do to further encourage the development of our science, technology and research industries of the M4 Corridor.

“These companies are the future,” Judith Bunting said. “Their research, development and manufacturing provides the precisely the kind of highly skilled work that is underpinning the economic recovery of the country.” She went on, “Should hi tech industry be eligible for the kind of tax-breaks enjoyed by other industries, like film and TV?”

“If I am returned to Westminster, I will pursue the idea of tax breaks for start-ups in the technology industry. Vodafone was once a Newbury start-up as was Quantel. Now they employ thousands of people in our area.  Our hi tech industries and their skilled workers are critical to stimulating economic growth.”

Nick Clegg was glad to acknowledge the importance of the technology industry to the economic recovery of Britain. With reference to the speech made by Judith Bunting at Federal Conference, last year, he emphasised the importance of getting reliable broadband coverage extended to the whole of the UK. In his speech, earlier, Nick said, “If this parliament was about reviving the economy, the next will be about rewiring the economy”.

Nick also celebrated Vince Cable’s work in promoting the teaching of engineering, electrical and technical skills in FE Colleges and the establishment of the Apprenticeship and the Higher Apprenticeship schemes in which companies sponsor students to take technical education to degree level.

Nick Clegg giving Keynote Speech at Bloomberg June 2014
Nick Clegg: Keynote Speech at Bloomberg

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