'Hopeless' Tories boost Labour
A lack of confidence in the opposition rather than support for the current government prompted finance directors to back Labour in this week's Accountancy Age/ Reed Accountancy Personnel Big Question.
The survey showed 41% of FDs believe it would be good for business if Labour remained in power. ‘Not that anything they’ve done is particularly good,’ according to one FD, ‘but the other lot are too hopeless to consider.’
A cautious ‘yes’ vote was given by the Godfrey Hall Group’s Chris Baldwin.
‘The government must understand that the UK retail industry can only progress if consumer demand is supported by a tax regime that is neither oppressive nor over-prudent.’
An almost equal number (38%) of FDs were non-committal. Several believed a change in government would have little effect on their businesses. ‘The economic policies of both major parties are essentially similar,’ said one FD.
‘Labour has just issued a paper highlighting the huge success of the air industry and then decided to slap huge taxes on everything to reduce growth,’ cautioned one FD, among the 21% which branded Labour as bad for business.
‘I don’t think it has considered the full implications of its actions,’ he added.
The Tories stepped up the pre-election pressure on Labour this week with a new advertising campaign. Although no date has been set, the election is widely expected to be called in May.