This week saw the Queen opening parliament to welcome in a coalition government for the first time. Throughout her speech she gave details on how the new government plan to address the UK’s massive budget deficit.
On the whole, company formation groups and SME forums, are in full support of the coalition government’s proposed policies. Which include – among many things – plans to reduce the National Insurance increase proposed by the previous administration, a commitment to provide high speed business broadband to all areas of the country and most importantly plans to cut public spending by six billion this year?
Jeff Marsden, founder and director of the Forum of Small Business, comments on the speech;
“ When it was first announced that no individual political party would have an overall parliamentary majority, many small business and company formation owners feared that we had voted in a weak coalition government who wouldn’t be able to see past ideological difference to establish a cohesive economic policy which this country so desperately needs right now.”
“However, since the coalition has got to work, feedback has been much more positive and small business and company formation owners are happy that the government is prioritising the economy above all else and positioning the SME and company formation sector as crucial elements to economic recovery. However, the coalition government must remember that their success in the yes of the SME and company formation sector is entirely relative to how they deliver against the plan to enable business growth.”