Building Britain for Generations: A Policy Agenda for Family Businesses
Summary of Recommendations L Lowering the Cost and Complexity of Doing Business
Employment Costs and Rights Government should commit to a fixed three-year cycle for reviewing policy, similar to the spending review process. Any changes outside this cycle should be limited to genuine economic emergencies and triggered through a formal process. Assess the long-term employment consequences of equalising the National Living Wage for 18-year- olds, with particular attention to whether higher rates reduce hiring of young workers and the potential to undermine long-term employment prospects.
Include a representative of family businesses on the Advisory Board of the newly created Fair Work Agency. Conduct robust Economic Impact Assessments before implementing any changes to the Employment Rights Act (ERA), ensuring that the full consequences are understood in advance. Government must ensure a lengthy and full marketing campaign is put in place to help businesses navigate ERA changes. Energy Costs Review the impact of rising energy standing charges on businesses, with specific attention to how these increases constrain family firms’ ability to invest in energy‑efficiency measures and decarbonisation.
Extend to businesses the same approach it has taken for households regarding exemption from paying the Renewables Obligation levy. Business should receive a similar benefit which the Treasury could treat as a ‘fiscal offset’ through lower inflation. The Regulatory Cost of Doing Business To introduce a climate of stronger regulatory simplification: • Design digital regulatory systems that understand family business models of ownership
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Ensure changes to digital systems are accompanied by clear guidance, adequate notice periods and accessible support.
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Government to simplify and harmonise Corporate
Governance thresholds and for the Wates Corporate Governance Principles to be promoted by Government to encourage responsible governance without imposing listed-company- style requirements.
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Improve integration and data sharing across Government platforms so that information is entered once and reused wherever possible.
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