In the run up to the UK’s General Election, what are the key policies that will be affecting the building services sector? Who has our best interests at heart and those of our businesses? How will their policies affect our skills and employment prospects, and potential workload over the next five years? Good or bad, here are the key pledges...
Conservatives
- Apprenticeships will receive a boost thanks to Cameron’s latest announcement to create 50,000 new apprenticeships which are to be funded using the £227m fine imposed on Deutsche Bank for rigging the Libor rate. The scheme will focus on 22-24 year olds that have been unemployed for more than six months.
- Aim for full employment for all those willing to work
- Triple the number of start-up loans to businesses to 75,000, as well as its ‘Help to Grow’ scheme
- It is also rumoured that Westminster will also look to engage with more SMEs for its own service and maintenance needs!
Labour
- Raise the minimum wage to more than £8 an hour by 2019
- Apprenticeship for every school leaver who achieves the grades
- No rise in VAT, NI or basic and higher rates of income tax (business rates for over 1.5m smaller business properties will be cut or frozen)
- Promises to tackle rising costs for small businesses, as well as strengthening rules on late payment.
Liberal Democrats
- Expand apprenticeships and develop national colleges for vocational skills
- Increase tax-free allowance to £12,500
- Five new laws to protect nature and fight climate change
Green party
- Increase the minimum wage to £8.10 in 2015 and £10 per hour by 2020
- Create one million public sector jobs
- Ban zero hours contracts
- Introduce a maximum 35-hour working week (In our industry?! Hmm...!)
- £85bn programme of home insulation, renewable electricity generation and flood defences
- Provide 500,000 social homes for rent by 2020
UKIP
- No tax on the minimum wage
- Promise to reduce business rates, tackle late payment and increase access to finance, while cutting red tape. Smaller businesses will have improved access to trade credit insurance.
- Tendering for public sector contracts will be made easier for SMEs by removing the necessity to demonstrate compliance in areas irrelevant to the job being tendered for
- Young people will have the option of starting an apprenticeship in four non-core subjects at GCSE level.
SNP
- Increase the minimum wage to £8.70 by 2020
- Easier access to finance for growing Scottish firms through the Scottish Business Development Bank
- Reduce air passenger duty and lower National Insurance costs allowing firms to create jobs
- No tax on the minimum wage
- Annual UK target of 100,000 affordable homes.
- Restore the 50p top income tax rate for those earning more than £150,000; introduce a mansion tax and a bankers’ bonus tax
- Retain the triple lock on pensions and protect the winter fuel allowance.
For a full list of policies from each party on everything from the economy to pensions, click here.