Tag Archives: business

The Independent View: Ministry of Justice costs reforms undermine Vince Cable’s aim of tackling rogue directors

Statue of Justice - The Old BaileyA key message the Business Secretary Vince Cable has been keen to stress during his time in government is the need to tackle rogue directors: he’s announced plans to produce “stronger deterrents” and “more robust sanctions” to quash ‘dodgy directors’. Dr Cable’s – and insolvency minister Jo Swinson’s – policies on protecting creditors from rogue directors are certainly worth developing, but they are at risk of being undermined by policies being put forward by the Ministry of Justice.

The Ministry of Justice has been seeking to tackle the costs of litigation, but its reforms will end up having a big impact on the insolvency profession’s ability to combat rogue directors and will have disastrous and costly consequences for small business creditors and the taxpayer.

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Vince Cable writes…Strengthening confidence in the UK’s takeover laws

London Stock Exchange photo by Jam_90sThe attempted but abortive Pfizer takeover bid for AstraZeneca has triggered a timely political debate in the UK about whether the safeguards in mergers and takeover legislation are adequate – especially when significant research and development assets are at stake.  It is now clear to me that some changes should be made.

photo by:
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Lorely Burt to support female entrepreneurs

lorely-outside-parliament-1 lorely burtVince Cable has appointed Lorely Burt to a new role aimed at promoting and supporting female entrepreneurs. From the Yorkshire Post:

Liberal Democrat MP Lorely Burt will help women-led businesses to understand the help available to their new and growing firms.

She started her career in the prison service and rose to become assistant governor at HMP Holloway, a tough female-only prison in North London.

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Michael Moore appointed as EU Business Adviser to Nick Clegg

Nick Clegg has asked former Secretary of State for Scotland Michael Moore to be his Adviser on European business affairs. The unpaid role will see Michael working with businesses across the UK to understand the key trade, investment and regulatory issue affecting their dealings in the European Union.

He will carry out a review of the issues and report to Nick Clegg by the Summer.

Michael Moore said:

Britain’s engagement with the rest of Europe is fundamental to our future economic well-being. At this crucial moment in the development of the UK’s relationship with the EU, I am delighted to take on this

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Jo Swinson MP writes… Liberal Democrat aim of transparent company ownership becomes a reality

Today the Prime Minister announced the very welcome news that the UK will have an open public register of beneficial ownership – something Liberal Democrats have long campaigned for. By making business more transparent, so that anyone can find out who really owns and controls a company, we strengthen the image of the UK as a clean and trusted place to do business.

As it stands UK companies currently have a register which lists who directly holds their shares but you can’t always tell who the ultimate beneficial owner is. With no duty for companies to hold this information individuals can …

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The Independent View: The Lib Dems can – and should – be the Party of the Entrepreneurs

Every party claims, in some way, to be on the side of small business, but none has really given new and potential businesses much time or attention. Firms that do not yet exist are much less easy to champion and harder still to help than existing small businesses, but they are no less important.

It may be no wonder, then, that not one of the three main party leaders mentioned entrepreneurs in their Autumn conference speeches. That’s why today we at the Adam Smith Institute are helping to launch The Entrepreneurs Network, a new think tank dedicated to giving …

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Don Foster MP writes… Access to finance for ethnic minority businesses

Liberal Democrats want to create a Stronger Economy in a Fairer Society. In order to do this it is vital that no one section of society is unnecessarily prevented from starting a new business should they wish to do so. However, evidence suggests that people from black and minority ethnic (BAME) backgrounds are often keen to start a business but for a variety of reasons don’t go through with it. The National Audit Office estimates that the cost to our economy from the failure to fully use the talents of people from our ethnic minority population could be more than …

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Vince Cable: UK single market is good for business

Vince Cable has been in Edinburgh today to launch the fourth in the series of  “Scotland Analysis” papers produced by the UK Government about the effect of independence for Scotland on a variety of issues. Today, the spotlight is on business regulation and the changes that independence would force on businesses both in Scotland and the rest of the UK with two separate regulatory systems to get round. The example Vince cited on a Radio Scotland interview this morning (which you can listen to here) was a simple one of buying petrol on either side of the border, …

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Jo Swinson announces consultation on streamlining businesses’ appeal process

From The Guardian:

The ability of big business to deploy armies of lawyers to prevent regulators from introducing consumer-friendly measures will be curbed under proposals published by the government on Wednesday.

The Business minister, Jo Swinson, is proposing a streamlined appeals system for challenging decisions by the UK’s economic regulators, which include Ofcom, the Competition Commission, Ofwat and the Office of the Rail Regulator.

Over the last five years there have been more than 50 appeals of regulatory and competition decisions.Legal challenges have caused delays to the

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Opinion: Euroscepticism is bad for UK manufacturing

In February 2012, Vince Cable flew to the US to meet with the Chief Executive of General Motors to make the case for why they should continue to invest in the UK for the long term. The BBC reported that the meeting may have played an important role in the company’s decision 3 months later to commit to invest in Ellesmere Port rather than at another of their EU plants.

It is lucky, perhaps, that this investment decision did not come up one year later. Vince would have had a few less cards in his hand. Michael Heseltine put it …

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Opinion: Get real about corporate tax

Companies currently pay corporation tax in the country where they are incorporated. A campaign is under way, in the Guardian, and the Commons Public Accounts Committee, that companies should instead pay tax where they make their sales. The proposal has populist appeal, but is impracticable.

Many companies, including UK companies, make export sales without costly incorporation in each sales country. If a US coal producer sells 1m tonnes of coal to UK powerplants for £100m, and makes £5m profit, it submits accounts in the US for tax authority scrutiny, and pays US tax on the £5m. Should this profit be …

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Michael Moore’s Westminster Notes

Every week Liberal Democrat Secretary of State for Scotland writes a column for newspapers in his Borders constituency. Here’s this week’s edition.

Borders Businesses

As the new GDP figures point in the right direction and a return to growth, I am working with local business here in the Borders to ensure they receive the support and advice they need to grow and create jobs for local people. At the moment I am conducting a Business Survey to assist me in this work and I want to encourage any business in Berwickshire which has not yet received one of these surveys to contact …

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Michael Moore MP’s Westminster Notes

Every week Secretary of State for Scotland Michael Moore writes a column for newspapers in his Borders constituency. Here is this week’s edition.

Olympic Torch in the Borders

 With the London Olympics just around the corner, it was great to be part of the crowd welcoming the Torch to the Borders last week. It received a very warm reception and it was fantastic to see so many people getting behind the event. The Torch’s eight day journey through Scotland has given us an opportunity to showcase everything Scotland has to offer and I would like to thank everyone in

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Nick Clegg leads business fightback in Europe

The FT reports:

Nick Clegg yesterday made a very public display of engagement with business over Europe as the deputy prime minister convened a business breakfast with Business For New Europe, a pro-single market group. Mr Clegg, flanked by Vince Cable, Danny Alexander, Chris Huhne David Laws, wanted to get the message across that he had dusted himself down and was ready to begin work on rebuilding relations on the continent after a bruising week for Britain.

But beyond the photo shoot and crafted media message lines, was a second, more exclusive meeting between Mr Clegg and the director-generals of key lobby

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Vince Cable speech to conference

Speaking at the Liberal Democrat Autumn Conference today, Liberal Democrat Business Secretary, Vince Cable said:

I have come to account to you, Conference, for the work I have been carrying out in the Coalition Government.

I have managed to infuriate the bank bosses; acquire a fatwa from the revolutionary guards of the trades union movement; frighten the Daily Telegraph with a progressive graduate payment; and upset very rich people who are trying to dodge British taxes. I must be doing something right.

But I am told that I look miserable. I’m sorry, conference, this is my happy face. ‘Aren’t you having fun?’ …

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Lib Dems launch ‘Enterprise in a fair society’ plans to boost business

Want to know what the Lib Dems will do to boost the enterprise culture here in the UK? Well, Nick Clegg and shadow business secretary John Thurso this week launched their programme in keeping with the party’s campaign emphasis on fairness, Enterprise in a fair society.

Here’s the party’s news release announcing the programe …

The proposals include:

    * Restoring a public interest test for regulatory authorities to consider when takeovers are proposed and changing the rules on which shareholders can vote on takeover proposals

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  • User AvatarRichard Dean 19th Dec - 9:39pm
    In a world without a society, we must all work to survive. We must all, individually, till the ground and hunt the rabbit. Working to...
  • User AvatarHywel 19th Dec - 9:08pm
    John - in my view the MPs have both gone native and lost any sort of spine. See the Judicial review votes and reports of...
  • User AvatarHywel 19th Dec - 9:05pm
    If you extrapolate the LDs polling 5% has they stood in the in the 1/3 of seats they didn't contest (possibly optimistic but bear with)...
  • User AvatarGlenn 19th Dec - 8:54pm
    Malcolm Blount, I never said the Libs have never given support to Labour governments , I said they have only ever been in full blown...
  • User Avatarsimon 19th Dec - 8:49pm
    This demonstrates ALLthat UKIP says about the failed political elite, in one neat stroke.. An incompetent minister, accepting terrible advice, under sells a precious national...
  • User AvatarSarah Noble 19th Dec - 8:40pm
    I'm a supporter of a basic income because the idea that we must work to, well, survive is an unnatural aberration that's basically an artefact...
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