Seriously?

I had an email from David Cameron this week. Seriously!

OK I suppose about a million other people got it too. But. It came addressed to me. And it was signed by David. So, I got an email from David Cameron this week!

The subject line was: New Economic Dynamism

And the two sentences that caught my eye were these:

We start this task with a basic insight: in the end it's not government that will create growth but businesspeople, entrepreneurs and grafters. Our job is to get behind them in every way we can.

And I have just heard on the news and read here on the BBC news website that the Government is going to make it law that all companies, no matter how small, will need to enroll their staff in an occupational pension.

The phrase that caught my eye was no matter how small.

Seriously?

So DC thinks that businesspeople, entrepreneurs and grafters are going to create growth (hardly an insight) but he doesn't mind if they create less growth because they are spending a few hours a week administering pensions.

Do I agree it is a problem that people are not saving enough for retirement? YES

Do I agree that the solution to that is to damage entrepreneurially inspired growth? NO

Because Bozo is a small business and because of all of the pain of employment law, he refuses to employ anyone.

I am sure one or two braver souls who currently employ say 5-10 people will be having a rethink now.

If DC thinks that's going to drive new economic dynamism he is an idiot.

 

 

Comments

[David Booth]

How wonderful to be deflected from the business of helping clients by new administrative hassles! Just what they pay me for....

And of course it's an opportunity for accountants of SME's to help them comply (or avoid - changing the salary/dividend balance perhaps?)

Maybe this is what DC means by stimulating private sector growth?