02-19-2025, 07:49 PM
The Liberal Party notes with concern the confirmation that UK economic growth in the last 3 months of 2024 registered a meagre 0.1% subject to revision.
The UK is now hovering dangerously with recession and stagflation, just over a year since the end of the last recorded decline in economic activity.
We believe that the Labour government’s failure to be honest with the public over its spending commitments prior to the autumn budget have caused a substantial decline in business confidence and investment.
The subsequent decision to imposes over £20 billion of additional employer NI contributions on businesses has the potential to further subdue employment at a time when many businesses are already seeing signs of a cyclical slowdown in business.
The party believes growth agenda can only be sustained by support for small businesses by raising the VAT threshold to £150k to enable businesses to get established before being faced with the disproportion burdens of tax administration.
Steps should be taken to improving the labour supply by raising tax thresholds and the benefit caps on the hours that unemployed can study and train.
The UK is now hovering dangerously with recession and stagflation, just over a year since the end of the last recorded decline in economic activity.
We believe that the Labour government’s failure to be honest with the public over its spending commitments prior to the autumn budget have caused a substantial decline in business confidence and investment.
The subsequent decision to imposes over £20 billion of additional employer NI contributions on businesses has the potential to further subdue employment at a time when many businesses are already seeing signs of a cyclical slowdown in business.
The party believes growth agenda can only be sustained by support for small businesses by raising the VAT threshold to £150k to enable businesses to get established before being faced with the disproportion burdens of tax administration.
Steps should be taken to improving the labour supply by raising tax thresholds and the benefit caps on the hours that unemployed can study and train.