What news for SMEs in the Queen’s Speech?

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The Queen’s Speech is the UK Government of the day’s declaration of legislation. A statement of intent. What will the new laws be and what is the plan the Government has for the months and years ahead? You can read the full text from Her Majesty here.

Obviously, the new Conservative minority administration plan (because a DUP deal has yet to be done) is a little flimsy. But there are some items in the programme that are of specific interest to UK SMEs trading on online marketplaces.

This is a flypast precis:

Brexit: This is clearly the major aspect of the Speech and also the most complex and controversial. In very basic terms it states that the UK seeks a standalone UK customs regime after exiting the EU, flexibility for future trade agreements with the EU and other countries. It also says changes can be made to the UK’s VAT and excise systems whatever the outcome of negotiations and that the government can collect customs duties, administer the customs regime and tackle duty evasion and have control over the import and export of goods post Brexit

National minimum wage The Queen’s Speech confirmed that the national living wage will be increased to 60% of median earnings by 2020.

Digital economy There isn’t much detail here but the government says it will look to create a ‘digital charter’ that will “make the UK the best place to start and run a digital business and the safest place in the world to be online”. That sounds like a good thing but but is also very vague.

National Insurance Contributions: There will be changes to NICs for the self-employed, but not as stringent as previously suggested. It seems like new measures will be under discussion and we look forward to seeing what they are. And, whatever the proposals, a minority Government may have bother getting them through.

The simple fact, as Brexit wrangles are underway, is that we are in uncertain times. How does that make you feel?

4 Responses

  1. “make the UK the… safest place in the world to be online”
    might need to dispute that claim with North Korea, China, and Iran, all of which are trapped behind the same kind of government internet controls May has planned for here.
    I dont believe it actually helps make the internet safer in those countries, but does massively aid their respective governments in cracking down on political opponents.

  2. if I got then minimum wage for all the hours I spent on the business I could retire

  3. dont need to retire just join the labour party and money grows on trees


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