Margaret Thatcher’s majorities were built with the support of an army of small business owners and the
wealth-creating risk-takers. The difference is that this time our plans must be credible, fully prepared in advance and ready to implement on day one of our next term in office. As a lifelong Conservative, I have been immensely frustrated that past leaders have talked about cutting red tape when running for office only to preside over governments that added to regulatory burdens: “talking Right but governing Left”, as Kemi puts it so well. Government is the ultimate scale opportunity in that it touches more lives than any individual business does – so I will make it my mission, alongside our new leader, to put family businesses at the heart of our policy and plans.
self-employed, hungry for a government that rewarded aspiration.
We will develop the detail over the coming months but this is an area where principles translate straightforwardly into policy. Lower taxes, a smaller state which does fewer things better and a government willing to stand up and defend
Daisy Cooper Liberal Democrat Treasury Spokesperson
LIBERAL DEMOCRAT BUSINESS & ECONOMIC COUNCIL The National Insurance contributions hike and the changes to business rates relief have combined to create huge cash- flow pressures, but it’s the changes in Business Property Relief that put some family businesses in real peril. Many have told me how they have literally had to sit around the family dinner table, working out what to do to keep the business going, in every eventuality depending on which family member dies first. Taking out insurance is an option for some but adds additional costs. Some tell me that they simply don’t want to try to “beat the clock” by passing the business to their children when their adult children haven’t yet decided whether they’re ready to take on the responsibility. And others fear it’s too late and won’t have any chance but to sell their company to a private equity firm – in effect putting an end to the company’s heritage, ethos, and values. We Liberal Democrats are always keen to engage with family businesses, learn from them, and make sure we have the right answers to the challenges they face. As a party, we stand ready to celebrate and defend them at every turn, because we know what truly fuels our economy: people, passion, and perseverance. In every high street and list of household favourites, the spirit of family enterprise lives on.
In an era of global conglomerates and fast-moving venture capital, family-owned businesses remain the quiet powerhouse of our local communities. These enterprises, often passed down through generations, are more than just economic players – they are the heart and soul of Britain’s high streets and hometowns. During a recent parliamentary debate, I made the case for the unique value of family businesses: they are symbols of trust, quality, and long-term vision, and are businesses which prioritise sustainability, employee satisfaction and community ties over short-term profits. From craft bakeries to garden centres, family-run firms provide more than jobs – they build social capital. They often stand as the largest employers in their regions, support local supply chains, and reinvest in their communities through charitable work and civic engagement.
But the Autumn Budget has created a very uncertain future.
BUSINESS PRIORITIES
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