Farage criticizes EU regulations burdening small businesses
Nigel Farage has declared that the European Union continues to inflict significant hardships on British small businesses, citing excessive red tape imposed by regulators as a primary obstacle. His remarks came during an event in Westminster where he launched a new initiative, the Small Business for Reform working group, reports BritPanorama.
Addressing an audience of approximately 300 entrepreneurs, Farage emphasized that the EU’s stringent regulations, alongside changes implemented during Tony Blair’s premiership, have severely hampered the operational capabilities of small enterprises. “I do think that the EU, its rules and regs – but also the way ex-PM Tony Blair fundamentally changed the way the country’s run, by taking enormous powers away from elected ministers and politicians and handing it over to quangos and regulators – has made the life of small businesses much, much harder,” he stated.
During the event, Farage revealed that Kevin Byrne, founder of Checkatrade, will assist in steering the new working group. However, he refrained from reaffirming his previous commitment to lowering taxes for small businesses, a promise made during last year’s election campaign.
He did indicate potential reforms regarding the VAT threshold, asserting that it is currently too low and a considerable burden on small businesses. “The VAT threshold is far too low and it’s one heck of a burden,” he remarked.
Farage also addressed the BBC’s license fee, labeling it as “wholly unsustainable” and alleging that the corporation has operated with institutional bias for decades. He urged for a “slimming down” of the BBC to focus on news, suggesting that it should have to compete in entertainment and sports through subscription models.
His comments reflect ongoing debates surrounding the impact of Brexit and UK regulatory frameworks on local businesses, highlighting the complex relationship between UK governance and EU directives as they continue to shape the landscape for entrepreneurs.
The future of small business regulation and the potential changes in tax thresholds remain pivotal issues as the UK navigates its post-Brexit economic strategy.
The interaction between regulatory burdens and the viability of small businesses underscores a broader conversation about the UK’s economic environment amidst evolving political landscapes.
