Chancellor John Healey has pledged to prioritise the UK's self-employed sector in his Autumn Budget on October 28, promising to boost earnings, cut red tape and reduce high overhead costs for workers. The Labour Party is drawing up plans to increase profits for the White Van Man and the country's self-employed workers.
Research shows that one in three of Britain's four million self-employed workers is in a weak financial position. Mr Healey has acknowledged that the sector has faced "tough" conditions and insisted that supporting the country's grafters remains a defining mission of his Treasury.
Chancellor's promise to self-employed
As reported by The Sun, the Chancellor said: "The white van drives Britain’s economy. Four million strong, the country’s self-employed workers add at least £366billion a year to the UK economy."
"But they have had it tough. Admin and high prices are weighing them down. I see it, and I hear it every day. I want Brits who are self-employed or running their own businesses to make more profit, invest more and spend less time on forms. So they’re at the forefront of my mind."
He added that new laws will "ensure they get paid for their hard work" and vowed to "cut red tape and slash admin burdens by at least a quarter".
Calls for National Insurance reversal
Organisations representing the self-employed are calling for the reversal of the National Insurance hike and an expansion of the Employment Allowance. The Association of Independent Professionals and the Self-Employed (IPSE), the UK's largest not-for-profit membership organisation for sole traders, is calling for a "clear path" on fuel duty rather than late extensions.
The group said next month's Budget is the Government's opportunity to "give the self-employed some certainty for once" and added that self-employed workers currently feel like "they're being left to fend for themselves".
Commitment to reduce red tape
Mr Healey has committed to a 25% reduction in the burden of business regulations by the end of his Parliament. He recently promised to "draw a line" under escalating costs, such as bills, planning constraints and regulatory friction.
