UK election: Labour's business manifesto

This morning the Labour Party launched its 28-page business manifesto (copies here). It promised companies it would "maintain a competitive tax environment for businesses", and offered new promises to curb regulation - though stopped short of ruling out tax increases. Secretary of State for Trade and Industry Patricia Hewitt said:

Labour has now replaced the Tories as the party of enterprise and the party of business. Their flimsy business manifesto was an insult to British companies.

Labour also promised to boost investment in science, technology and the creative industries and to make the UK a "leading advocate'' of free trade. The document pledged to use its EU presidency in the second half of this year to press for regulatory reform and more work to open the European market in services. It also chided progress on economic reform in Europe:

Progress on economic reform in Europe has, to date, been disappointing. ...We need full delivery of the Commission commitment in its better regulation action plan. This will include policies to regularly review regulators and regulation to ensure that they are necessary, effective and consistent with achievement of the Lisbon agenda.

Business reaction has been mixed. According to a new MORI poll of 200 financial directors of UK companies, many more (49%) thought the Conservatives had the best policies for business than did Labour (23%). But 58% thought that Labour's Gordon Brown would make the best Chancellor, compared with only 29% favouring the Tory's Oliver Letwin.

Comments

[EU Serf]

.....But 58% thought that Labour's Gordon Brown would make the best Chancellor, compared with only 29% favouring the Tory's Oliver Letwin......

This just goes to show how thick most people in Business are when it comes to complicated things outside of their daily remit.

Even if I had no idea who Oliver Letwin was, I would choose him over Gordon Brown, a man whose spendthrift ways, complicated taxes and off balance sheet accounting will continue to damage Britain's economy long after he has gone.

On the other hand, Letwin is a man whose skills were valuable enough for a top investment bank to make him a director.

Gordon Brown doesn't run the economy, he just taxes and over regulates it.

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