General Election Manifesto Outlines

The general election is just around the corner. No doubt there will be some of you who will know exactly who you’ll be voting for, while some of you still won’t have made up your mind.

But whichever way you choose to vote, here’s an overview of what each of the three main parties are promising for small businesses – and what you could be facing if each party wins on the 8th of June.


The Conservative Party’s focus is on keeping taxes low and simplifying the system for businesses. It promises to:

  • Continue with plans to raise personal tax allowances to £12,500
  • Cut corporation tax to 17% by 2020
  • Review Business Rate Relief
  • Ensure 33% of central government purchases come from SMEs
  • Back the Post Office network to support small businesses in rural areas
  • Reduce regulation that prevents small businesses from growing
  • Ditch the Tax Lock set up by David Cameron


Labour is promising to put small businesses at the heart of its strategy, focusing on support and lending. Its aims are to:

  • Exclude small businesses from quarterly tax reporting
  • Establish a National Inves­tment Bank to deliver £250 billion of lending power
  • Increase corporation tax to 26% but reintroduce lower small-profits rate
  • Review business rates system
  • Ensure there are no more personal National Insurance or VAT increases
  • Raise income tax on those earning over £80,000
  • Put an end to late payments using government procurement

Liberal Democrat:

The Lib Dems are focusing on improved access to finance and creating a more competitive marketplace for small businesses. It plans to:

  • Take a tough stance on corporation tax avoidance by putting pressure on HMRC
  • Reverse planned cuts to corporation tax, capital gains tax and inheritance tax
  • Reform corporation tax to benefit smaller companies
  • Review the Business Rates System to reduce the burden on smaller businesses
  • Expand the state-owned British Business Bank to improve equity capital for growing firms
  • Bring in a start-up allowance to help with living costs during the first weeks of business

We hope this outline has given you a little insight in what we can expect from each party from the upcoming election. But if you have any other questions regarding what the outcome of the election could mean for you and your business, don’t hesitate to get in touch.