MPs are thrashing out the final stages of Labour’s much-hated ‘Union’ Employment Rights Bill in the Commons today. The latest measures hand even more power to the unions while punishing employers, with the Federation of Small Businesses warning two-thirds of SMEs are now holding back on hiring, and a third may be forced to cut jobs. So much for Starmer’s promise to “rearm the nation” with thriving small businesses…
Employment rights minister Justin Madders was wheeled out to defend the bill. When pressed to name any small business that actually supports it, he confidently cited… the Co-op, Centrica, and Richer Sounds. Not exactly your local corner shop. For context:
According to the government’s own definition, an SME is a firm that has fewer than 250 employees. Madders also claimed the British Chamber of Commerce backed the Bill. He must have missed the BCC’s Director General warning it would “create huge costs for firms, hamper growth, restrict recruitment, and lead to job losses.” As one MP quipped, perhaps Labour are expecting these big businesses to end up as small ones by the time this Parliament is over…
Speaking at his speech on how to achieve “progressive capitalism” Wes Streeting fired a dig and Andy Burnham:
“Bond markets are not bond villains and fiscal rules matter.”