MPs column: Adam Afriyie, MP for Windsor, Feb 2013
Published 1 Mar 2013 09:30 0 Comments
The Government must create an environment in which businesses feel confident to invest and grow. I know first-hand how difficult it is to get a business off the ground and make it a success.
Having come to politics from a background in starting and growing small and medium sized businesses, it is clear to me that enterprise is the only route to create the jobs, wealth and tax revenues the country so desperately needs. The previous Government left us with a legacy of red-tape and confusing taxes which frustrate the efforts of our businesses to achieve their full growth potential.
While the steps taken by the Coalition have been encouraging, the UK suffered a blow last week when it lost its AAA credit rating, with Moody's citing a lack of growth for its decision. Ultimately, it is the risk-taking entrepreneurs, business owners and their hard-working dedicated employees who are the life-blood of our economy. It is now time to simplify the tax system, and let small firms in Ascot and across the country continue to do what they do best: creating jobs through hard work and innovation.
We need bold, simple, serious measures in the Budget that encourage and further reward investment - such as reducing corporation tax and looking to gradually phase out the nonsensical tax on creating jobs called employers' national insurance. The Chancellor will deliver his fourth Budget next month, and a temporary reduction in capital gains tax on business investments would immediately open the floodgates for global investment into Britain. Employment and growth figures in our area are among the strongest in the UK. By taking action now, we can kick-start the economy nationwide and help secure a stable and competitive Britain for the future.