The overhaul will stifle investment, depress wages and slow growth
Greg Smith
By Greg Smith Conservative MP for Mid Buckinghamshire
Labour’s looming package of union laws will be the biggest economic own goal since Gordon Brown said he had ended the cycle of boom and bust.
Their ‘New Deal for Working People’ will stifle investment, depress wages and slow growth. It is the wrong thing for our country.
It is no wonder they are trying to rush it through Parliament to meet their made up deadline of 100 days in power, which falls this Saturday.
Small and medium sized businesses are key to driving the growth to which this Government professes to aspire. They are the backbone of the economy. It is in Labour’s, and the country’s, interests to support them.
Instead, they fall in behind their union paymasters and dogmatically work against them. This package of measures will allow unions to hold companies to ransom, drown them in a tidal wave of red tape and put off investors.
It is no wonder that, with this pending economic disaster on the horizon, business confidence is shot, with the biggest one month drop of business confidence on record falling last month.
Nor is it a surprise that the Confederation of British Industry saying that almost 2/3s of employers say UK going to be a less attractive place to invest.
Or the chorus of Chief Executives saying this will cost small businesses thousands, the CEO of Currys even saying this plan risks “making people poorer”.
Instead of meeting small and large businesses and working out where they can work with them, all they seem to do is bow to the demands of the union barons who bankrolled their election campaign and tell businesses like Amazon they are wrong.
Politicians who have never run a business telling experienced business owners how to be more productive is arrogant and will only drive businesses away.
Changes to business regulation are a good thing when done well. But that is not what is happening here.
Labour have always been the anti-business party. Starmer’s Government is doing everything to stay in this mould, leaving us all worse off.