Northern Ireland party manifesto launches should be opportunity to set out their pro-business credentials, says FSB NI chair

The Federation of Small Businesses has published its 2024 general election manifesto with small businesses and the self-employed being highlighted as the heart of the economy in Northern Ireland.

According to the FSB, this general election on July 4 is the perfect opportunity for Northern Ireland`s parties to put forward a compelling pro-SME business case, with members looking forward to reading the parties’ manifesto proposals to support job creation and drive economic growth.

FSB`s NI policy chair, Alan Lowry said: “SMEs are at the heart of the Northern Ireland economy and this general election provides the perfect opportunity for those seeking election to set out how they intend to create a pro-business environment which helps SMEs and supports the risk-takers and job creators to grow the economy.

“It will be through growing the economy that we, as a society, will be able to fund the public services that are facing so many challenges. The Conservative Party, Labour Party and Lib Dems have published their manifestos.

“The Conservative Party has pledged to scrap self-employed NICs within the next five years; not to raise capital gains tax; and to protect small businesses with entrepreneurs' business asset disposal relief. These are welcome pro-business commitments.

“Labour Party pledges to reform business rates, legislate to tackle late payments by big businesses to their smaller suppliers, and remove barriers for small business exporters are welcome proposals.

“The Lib Dems set out their plans on capital gains tax which they claim would protect small businesses. For many small firms their business is also their pension and it`s right not to tax people all over again when they come to sell.

“This week it is the turn of the local parties to demonstrate their pro-business credentials. We are looking forward to learning what they plan to do, and how they will work with business to help grow the economy.

“The FSB Manifesto lays down a marker and sets out a wide range of important pro-business measures. Key for Northern Ireland, as we see increasing challenges from the Windsor Framework, is to give us a competitive edge by acting at Westminster to give Stormont powers to set and lower the rate of corporation tax here.

"We also want to see an export tax credit introduced which, along with reduced corporation tax here, would really cement Northern Ireland’s position as one of the most attractive places for global manufacturers to be established.

“We sincerely hope that the Northern Ireland parties’ proposals will help the local business community who have faced myriad challenges in recent years including Brexit, Covid, political instability, the cost of doing business going through the roof, and lack of government support such as the 75% business rates discount which was introduced in GB, but wasn’t made available in NI.

"This is an opportunity to set Northern Ireland and its people on a positive trajectory to benefit from a longer-term prosperity process.”