Advocacy update
Change. This was the only word that appeared on the front of the Labour Party’s General Election manifesto and, sure enough, a year later the world has changed, perhaps more than any of us – including the Government – had bargained for! A combination of global geopolitical and economic uncertainty and substantial increases in taxes on UK businesses, including the changes to Business Property Relief (which you can read more about in these pages), have created instability in financial markets and seen confidence plunge for both business and consumers. Meanwhile, the two-party political landscape, which has dominated English politics for years, has been upended following May’s elections in which voters abandoned the main political parties in their droves. Twelve months on from the UK General Election, the world of business and politics looks very different. So, what does all this mean for FBUK and our work to engage with government and policymakers? Over the last year we have, necessarily, focused almost exclusively on the changes to BPR. We know how important the policy is to the long- term success of family businesses and their importance to the economy. Despite presenting MPs and Ministers with a robust, evdence-based argument about the damage the changes to BPR will cause, the Government has rejected our calls for a consultation.
Martin Greig Director of External Affairs Family Business UK
Nevertheless, we will continue to make BPR a central theme of our engage- ment with the Government. We will use our latest research (which you can read about in these pages) to again push for a reversal or amendment to the policy and we will engage with all parties to make reversing the changes a manifesto commitment ahead of the next General Election. Putting the voice of family businesses at the heart of policymaking means we must engage in areas where family ownership, and the insights those businesses offer, have real benefit and real impact. In recent months, we have made submissions to the Industrial Strategy, we have engaged with Ministers about the Employment Rights Bill and made representations ahead of the deal on US trade tariffs.. One area in which we continue to play an active role shaping policy is through
our work with the Government’s Small Business Growth Forum. This group has been focused on developing the Government’s new SME Strategy and, through roundtables with government officials and direct engagement with the Small Business Minister Gareth Thomas, FBUK and our Members have been instrumental in shaping the strategy which will be published in the summer. We are also using our engagement with government to encourage policymakers to consider the importance of mid-market companies – the home of so many multi- generation family businesses. Whilst policymakers have largely got to grips with the needs of SMEs, businesses that sit in this “forgotten middle” continue to be overlooked. Our Partner NatWest has been instrumental in leading research and collaboration in this area and we look forward to working with them, and others, to build on their success. Our work to engage with Government and policymakers relies on you, our Members sharing views and experiences. Please continue to support our work and get in touch with the team info@familybusinessuk.org
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