the business ladder

New strategies proposed by the government, including increased access to finance and reduced bureaucracy, could see a fresh approach to helping new companies grow.

David Cameron, in his speech at the 2010 Confederation of British Industry (CBI), said: “This is an incredible opportunity for Britain, for new start-ups to flourish, for innovations to drive growth and create jobs.” At this annual conference, the prime minister emphasised the integral position that new companies hold in providing increased job opportunities and aiding economic growth.

The government released plans to encourage private sector expansion through a three-part programme, including: development of appropriate structures for business investment; allowing original and new business ventures can thrive easily; and concentrating on British industries where we are most competitive. 

In addition, there are plans to cut Corporation Tax from 28% to 24% over a five year period, establish new apprenticeship opportunities that will help develop the UK skills market, and to reduce domestic red tape through a new open ‘one-in, one-out’ rule in regards to regulation.

Cameron further stated: “Above all, we want to help new companies break into existing markets. We are bringing a pro-enterprise attitude – dealing with the deficit, cutting business taxes, investing in infrastructure.”

Ed Miliband, the leader of the Labour party, in his speech, is expected to dispute the credibility of the government’s growth policies. Since becoming Labour party leader last month, his first speech to the CBI will affirm that these proposed strategies are likely to lead Britain into making similar mistakes as to those that were made in the run up to our most recent recession.

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