A Labour general election win: the implications… With 86 days to go until the general election, the North’s SMEs are well underway in deploying analysts to try to interpret the consequences that change may cause for them.
Pennine Business News’ Reuben Cutts looks at some of the day’s leading news in the race to Number 10’s doors.
David Cameron’s spiteful comments towards Labour’s Ed Miliband are hardly breaking news. As is widely publicised, Cameron has suggested that Miliband has a “spearing hatred of business”.
Since 2001, the ‘New Labour’ has shifted more to the right of the political spectrum, so it would be naive of us to believe that widespread nationalisation is pending.
That said, it is wise that we keep ourselves up-to-date on the likely outcomes for the North’s SMEs, should a Labour victory occur.
For the region’s large corporations, the news that crown dependencies would be required to remove the veil on offshore companies’ ownership may be an issue. However, SMEs are far less likely to be implicated by this move.
Miliband has outlined plans to double paternity leave from two weeks, to four. On the face of it, this is a cause for concern. The cost of covering these employees is already an unwelcome burden to the accounts of many SMEs.
Reassurance can be found though when we analyse the statistics: one-third of men do not use a single day of their leave; of those that do, only 16% use their full allocation.
This can be attributed to their statutory pay whilst on leave. Currently, this is between £138 and £160 per week. Unsustainable to maintain a family on, many therefore reject this leave.
Should we see this is as a problem then? Not in itself. But, Miliband proposes that the statutory pay be increased by £100 a week, thereby increasing the sustainability of a male’s leave from work, raising the probability they will take more days off.
His experience in editing includes work on behalf of the European Commission, the Financial Conduct Authority, and numerous county councils. He has worked extensively for Plain Language Commission.