IPSE welcomes Queen’s Speech business promises

The IPSE has welcomed the promises made in the Queen’s Speech last month, which included clamping down on late payment and promoting pension reforms.

It was announced that the government will ‘clamp down on late payment more broadly and strengthen powers of the Small Business Commissioner to support small businesses that are exploited by their larger partners’.

And with regards to saving for later life, the government will ‘support pension saving in the 21^stcentury’ and ‘create a legislative framework for the introduction of pensions dashboards’.

However, the IPSE has noted that there was no mention of the Conservative’s pledge to review IR35.

Simon McVicker, Director of Policy at IPSE, commented, “There is plenty of good news here for the self-employed. Late payment is the scourge of freelancers everywhere, and we have been calling for some time for the Small Business Commissioner to be given more powers to clamp down on it. In fact, it was a key demand in our #5millionvotes manifesto.

“It is excellent to see the government has listened, and we look forward to seeing this become a reality soon. We will be pushing for these powers to include naming and shaming – and even fining – the worst offenders.”

McVicker added, “Another key area of our manifesto was saving for later life. It is great to see the government not only recognising the lack of saving at the moment, but also taking on our recommendation to create a pensions dashboard. This will help freelancers keep track of their pensions and bring together their different saving funds in one place.

“We are also delighted to see the government forging ahead with the plan to bring gigabit broadband to the entire country. A strong internet connection is one of the vital tools to allow freelancers to build their businesses and thrive in the modern economy.

“In all this good news, however, there was one vital thing missing: IR35. During the election, Chancellor Sajid Javid pledged that the Conservative Party would review the disastrous changes to IR35 due to come into the private sector in April.

“If this government is to truly make Britain a place where ‘entrepreneurs know they can build on their ideas and find success’, it must keep its promise and also halt these hugely damaging changes while a full review is carried out. It has a golden opportunity to support and drive forward the vital self-employed sector, but it must first protect it from a dangerous mistake.”

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