As we sat here at LNTV HQ and watched the election results coming in late last night, this morning, and this afternoon, we started to think about what the result would mean for the legal sector. As David Cameron and the Conservatives have now been able to form a majority Government, we can remind ourselves of their manifesto pledges which will affect our subscribers to the Corporate/Commercial and Employment channels:
Corporate/Commercial:
Continue with the Red Tape Challenge which aims to reduce bureaucracy for businesses and has already resulted in a number of changes to company law
Implement the recommendations of the Competition and Markets Authority Inquiry into energy supply
Push for freer global trade, concluding major trade deals with the U.S., India and Japan, and reinvigorating the World Trade Organisation
Secure the delivery of superfast broadband in urban and rural areas, to provide coverage to 95% of the UK by the end of 2017
Hold mobile operators to their new agreement to ensure that 90% of the UK will have voice and SMS coverage by 2017
Increase British exports by pushing for an EU-India trade deal and championing and EU-China trade deal, strengthening economic links with China, and doubling support for British firms selling goods there
Protect intellectual property by continuing to require internet service providers to block sites that carry large amounts of illegal content and build on anti-privacy projects to warn internet users when they are breaching copyright
Raise the target for SMEs’ share of central Government procurement to one third, strengthen the Prompt Payment Code, and ensure that all major Government suppliers sign up
Work with public libraries to ensure remote access to e-books, without charge and with appropriate compensation for authors that enhances the Public Lending Right scheme
Employment allowance for employers taking on new staff whereby first £2,000 of national insurance is abolished
Expansion of Office of Tax Simplification and placing it on a permanent basis
Maintain the banking levy
Introduction of criminal offence for economic crimes including tax evasion
Complete devolution of corporation tax to Northern Ireland
No increase in rates of VAT, income tax, or national insurance
Employment:
Require companies with more than 250 employees to publish the difference between the average pay of their male and female employees
Support greater female representation on boards
Support the living wage and encourage organisations to pay it, if they can afford it
Increase the National Minimum Wage to over £8 per hour by the end of 2020
Deliver three million more apprenticeships over the next five years
Support the retention of Employment Tribunal fees, subject to the outcome of the judicial review appeal later this year
Strikes will only be able to take place where at least half of the workforce has voted in a ballot. For essential public services (health, education, fire, and transport), industrial action will require the support of at least 40% of the workforce entitled to vote, as well as a majority of those who turn out to vote
A repeal of restrictions banning employers from hiring agency staff to provide essential cover during strikes
Strikes will not be able to be called based on historical ballots
Tackle the intimidation of non-striking workers, introduce legislation to ensure an transparent opt-in for union subscriptions by trade unions, tighten the rules around ‘facility time’ for union representatives, and reform the role of the Certification Officer
End tax-payer funded six-figure payoffs for the best paid public sector workers. Cap public sector redundancy payments at £95,000
Introduce tougher labour market regulation to tackle illegal working and exploitation
Give employees working in the public sector and for large employers (i.e. those with more than 250 employees) the right to do voluntary work for three days per year on full pay
Seek to renegotiate EU membership, then hold an in/out referendum by the end of 2017
Further steps to eradicate abuses of workers, such as non-payment of the minimum wage, exclusivity in zero hours contracts, and exploitation of migrant workers
Reduce tax relief on pension contributions for those earning over £150,000
Continue to support the introduction of the Single-Tier State Pension
Implement the Modern Slavery Act, requiring businesses to report on steps taken to be ‘slavery and trafficking free’, including in supply chains
Support pension flexibilities by giving individuals the freedom to invest and spend their pension as they like and pass it on tax free
Introduce a British Bill of Rights, then repeal the Human Rights Act, and turn the European Court of Human Rights into an advisory body only
Retain the ‘triple-lock’ on State Pension increases (i.e. higher of inflation, average earnings, or 2.5%)
As always, LNTV will be here to keep you updated with the legal changes in these and our eight other practice channel areas.
Until next time…