The Liberal Democrats have disclosed an ambitious agenda ahead of the upcoming election, focusing on economic and trade reforms.
- The party plans to replace existing business rates with a new commercial landowner levy, alleviating financial burdens on small businesses.
- Pledging to rejoin the EU single market, the party aims to remove trade barriers and enhance international commerce.
- An overhaul of the apprenticeship levy is proposed, focusing on more flexible skills development opportunities.
- The manifesto emphasizes environmental responsibility, combining business growth with sustainability.
Ahead of the general election slated for July 4, the Liberal Democrats have distinguished themselves by being the first political entity to present their manifesto. This proposal lays the groundwork for substantial economic and trade reforms, prioritizing a shift from traditional business rates to a commercial landowner levy. Originally proposed in 2018, this levy is calculated based on land value and is expected to support UK high streets by empowering small businesses to generate local employment opportunities. The shift comes in response to the business rates multiplier increasing to 54.6p as of April, which is an anticipated £470 million cost burden on the industry this year.
A pivotal element of the manifesto is the commitment to rejoin the EU single market. By eliminating trade barriers established post-Brexit, the Liberal Democrats aim to rejuvenate international trade relations. The EU single market facilitates the free movement of goods, capital, and people, which would lower the costs for brands engaging in European and consumer markets. The manifesto criticizes other political parties for their limited discourse on Brexit—a topic of significant importance in fashion retail.
Moreover, the Liberal Democrats propose to replace the current apprenticeship levy with a more comprehensive and adaptable system that aligns with the industry’s call for enhanced skills training. Promising to ensure that apprentices are remunerated at least at the National Minimum Wage, the proposal includes scrapping the lower apprentice rate and broadening the work visa system. This approach is designed to mitigate labor shortages and foster a more skilled workforce across the UK.
The party also advocates establishing a Worker Protection Enforcement Authority to consolidate responsibilities for ensuring compliance with the national minimum wage, tackling modern slavery, and safeguarding agency workers. Concurrently, the suggested energy framework mandates UK stock exchange-listed businesses to adopt goals aligning with the net-zero target and report their advancements. This strategy encourages firms to invest in digital technologies and energy efficiency as part of a broader sustainable business model.
In addition to these reforms, the Liberal Democrats propose a framework for artificial intelligence aimed at fostering innovation while guaranteeing accountability and transparency in AI systems. This initiative underscores the importance of unbiased and accurate use of personal data, respecting privacy in both public sector operations and business practices.
The Liberal Democrats’ manifesto reflects a comprehensive strategy focusing on economic advancement, environmental responsibility, and labor market improvements.
