✔ Hold Banks to Account
✔ Tackle Tax Avoidance
✔ A Living Wage
✔ SME Innovation
✔ Review IP Law
The UK is in a dire financial position right now, we have not managed to dig ourselves out of the hole caused by the bank crisis under Labour, and many of us are still suffering from the consequences. We have not put protections in place to prevent the same mistakes from happening again. We must hold the banks to account. Banks and their management should be liable for catastrophic mistakes, it will mean that they take fewer risks with our money, the Government wants to stop short of this. It is time for strict liability for bank directors to prevent our economy from being treated like a casino.
The tax system should be clear and transparent and focused on jobs and innovation. We need to take action to reduce avoidance and act on evasion. A dedicated tax minister with clear responsibilities to us all would help to make sure all businesses and individuals are playing their part and that no
group faces an excessive burden.
It is important to realise that we can’t simply borrow or tax-cut our way to growth, we have to invent our way to it. We need to focus on what works. Small businesses provide a massive amount of employment and tax revenue, we should ensure that they are not prevented from innovating but encouraged to do so.
We see more economic activity and more jobs from small firms yet tax breaks are more available to large corporates. That is not only unfair, it is promoting business that isn’t beneficial to the UK at the cost of supporting those that are.
The economy is built upon education and individual effort. We need to empower individuals, school should not just be about work experience but about “creating your own job” experience. We must remove Intellectual Property laws that are hampering growth. It’s time to stop the tide of over reaching patents and trivial law suits that are tying up new ideas and start ups.
Instead of bailing out banks, and channelling money through them, help needs to get directly to those who are creating new ideas and new jobs. But it is not just a question of creating any old jobs. The focus of our economy should be jobs with a living wage. 10% of the city’s earners are below the Manchester living wage of £7.22 an hour. We need to lift these people out of the poverty trap.