- Wednesday, April 24, 2024
By: Radhakrishna N S
By Nadeem Badshah
BRITAIN’S top entrepreneurs have urged the next UK government to make ending the Brexit uncertainty, addressing the lack of housing and enabling more trade deals with India among its top priorities.
Ahead of the general election on December 12, they have unveiled their Christmas wish lists, which include more investment for the NHS, as well as the education and technology sectors. And the businessmen have also recommended more support for start-up firms and small businesses amid rocketing business rates in recent years.
Chancellor Sajid Javid is planning to spend an extra £20 billion a year on projects such as roads, railways, schools and hospitals, while Labour has proposed to increase infrastructure investment by £55 billion for the next five years. Both plans would see public investment return to levels last seen in the 1970s.
Lord Rami Ranger CBE, founder of the Sun Mark brand, said his priorities include free trade deals with the EU, US, Japan and India so agreements can continue to be reached without red tape.
He told Eastern Eye: “The NHS is the pride of our nation, and it requires additional funding to keep pace with the escalating cost due to the increasing life expectancy and the cost of modern medicines. “If people do not get medical care on demand, then the nation pays a huge cost in terms of lost working days.
Lord Rami Ranger CBE
“Finally, the government should invest in education and technology so that we can continue to innovate and stay ahead of the competition.
“We have to be mindful of the emerging competition from India and China, where students are highly committed, and as a result, prepared to do more for less in a global market.”
Vivek Patni, founder and CEO of WeMa Care, has called for the next government to reschedule the publication of the Social Care Green Paper as soon as possible and push global climate change targets higher up the political agenda. He told Eastern Eye: “This will reassure the public the government has a sustainable strategy, and a funding plan to provide those in need with the appropriate support.
“We cannot let the society’s most vulnerable individuals fall through the cracks. Additionally, I’d like to see the incoming government prioritise international trade and SME service exports.
Vivek Patni
“With Brexit on the horizon, the landscape for UK businesses will inevitably change, causing many to feel uneasy about the future.
“So, the government must take steps to reassure businesses, and work with them to facilitate the export of goods and services in international markets. Without a strong supporting network for British SMEs, new business growth, and indeed the economy, will inevitably deteriorate.”
The latest scheduled date to leave the European Union is January 31, 2020, after the government was unable to meet the previous deadlines in March and October this year.
Paresh Raja, CEO of bespoke lending firm Market Financial Solutions, said ministers must ensure Brexit is resolved by the end of January.
He said: “The uncertainty it has caused has been problematic for the property market – investors have become hesitant and many lenders are becoming much more risk-averse when it comes to issuing loans. Any further delays will only create more uncertainty, so progress has to be made.
“Secondly, we are long overdue for a budget. Initially, the Autumn Budget was scheduled for early November; it presented an ideal opportunity for the government to announce new policies and initiatives to address some of the pressing national issues facing the UK.”
Paresh Raja
Raja added: “The government can no longer ignore the housing crisis. For years, there have simply not been enough homes to meet demand, and this has made it difficult for people to jump on and move up the property ladder.”
It comes as The Federation of Small Businesses called for action on business rates.
Figures from the Valuation Office Agency showed a new business rates appeal platform has caused the number of firms registering a challenge to their bill to fall by 94 per cent across England.
The Check, Challenge, Appeal (CCA) system was established in 2017. Some 12,580 firms have outstanding challenges to their rates bills registered, compared to 209,140 at the same point after the 2010 revaluation.
Ritam Gandhi, director of software firm Studio Graphene, said the uncertainty over Brexit has made it difficult for small businesses to plan and implement long-term growth strategies.
He said: “I want to see the next government offer a greater amount of operational support for start-ups, be it through dedicated programmes or advisories. Second, there needs to be more financial support for smaller businesses when it comes to creating jobs. For example, financial contributions linked to PAYE disbursements is an effective way of encouraging young companies to hire, meaning there are plenty of opportunities out there.”
Ritam Gandhi
Gandhi added that he would like to see more investment being made into London’s infrastructure, including the rail networks and affordable office spaces.
Meanwhile, Javid claimed last weekend that Labour would plunge Britain into an economic crisis “within months”.
The chancellor said the opposition would spend an extra £650 million a day if they win the election – labelling the levels of spending “eye-watering”.
But Labour branded the analysis a “ludicrous piece of Tory fake news” and an “incompetent mishmash of debunked estimates and bad maths”.
Naz Shah, the Labour MP for Bradford West in Yorkshire, said: “We are bringing a revolution to society by supporting those most in need.”
