IoD responds to Ed Miliband's speech

Responding to Ed Miliband’s speech to the Labour party conference in Manchester yesterday afternoon, Simon Walker, Director General of the Institute of Directors, said:
"All politicians are entitled to a little hyperbole, but Ed Miliband knows very well that it's simply untrue to say 'every millionaire will be getting a cheque for £40,000 next April'. The reduction in the top rate of tax was a welcome improvement for hard-working business people who create wealth and jobs, which makes Britain more competitive.

"When it comes to public procurement, the proposed requirement for all public contractors to run an apprenticeship scheme will discriminate against the many small and medium-size businesses who can't afford to do so. This would be an unnecessary barrier for SMEs, and would cause the taxpayer to miss out on the services of some of Britain's most energetic and innovative companies."

"Small and medium-size enterprises need the ability to pursue commercial business with the lowest possible tax and regulatory burden. We all want a dynamic, growing economy - and setting businesses free is the only way to get it."