FBUK Manifesto Ahead of the General Election, we have launched The Family Business UK Manifesto – Taking The Long- Term View which lists policies to unleash the potential of the UK family business sector. Our Manifesto has received support from business leaders across the family business community, including from Rigby Group, Samworth Brothers, Wates Group and ARCO. Family Business UK believes that, for too long, political, industry and business decision-making has taken a restricted approach to investment decisions that respond to the priorities of non-family business PLCs, whose priority is to meet shareholder demands for short-term returns on investments. The UK needs to formulate a growth strategy that encourages and incentivises businesses to focus on longer-term investment opportunities and returns for stakeholders, the environment, and the UK’s role and place in the wider world. The Manifesto sets out a list of key policy recommendations that can provide enormous potential for the family business sector to support economic growth, family businesses, their workforce, and society at large. The policy recommendations fall
l Reviewing the disparity in the tax treatment of debt and equity financing l Developing a stand-alone growth and support strategy for mid-sized businesses l Raising the eligibility threshold for EIS to 499 employees (the same level as for knowledge-intensive companies) and increase the investment limit Ownership and succession: Promoting family ownership and en- suring a smooth transition from one generation to the next, and building new companies for the future by: l Committing to maintain Business Property Relief (BPR) in full l Updating the rules for BPR to support businesses with joint ventures l Bringing Gift Hold-Over Relief eligibility into alignment with BPR to enable a smooth transition in ownership between generations You can download the full Manifesto at familybusinessuk.org and we encourage you to share it with your local MPs and Prospective Parliamentary Candidates (PPCs).
under three areas: People, Growth, and Ownership and succession.
People: Policymakers and businesses must come together to help family firms to get the best out of their people through investing in skills and opportunities for local communities by: l Replacing the Apprenticeship Levy with a Future Skills Fund l Allowing more flexibility on how businesses use the fund for skills l Removing barriers on spending between home nations l Encouraging upskilling and career-long learning Growth: Family firms – backed by a clear government agenda – can help to deliver growth, enabling them to invest for the long term to create sustainable businesses and jobs by: l Developing a Long-term Industrial Strategy, and publishing a Business Tax Roadmap l Making the new Full Expensing rules for capital investment permanent
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