Ed Miliband, the Uncle of British Business

Ed Miliband campaigning at a High Street (Image: Daily Mail)

Economics is a funny subject. As money is becoming increasingly important to many of us, every minute of the day we make decisions which have financial consequences. We think to ourselves "If I spent this amount on that item, I'd have this much to spend until my next pay day". That is how I tend to operate anyway. So bearing that in mind, you have to spare a thought or two for business owners. Particularly owners of larger businesses, they feel obliged to make professional viewpoints and financial decisions by media speculation and how the economy is generally heading.

At the moment, the economy is doing okay. As a whole, Britain is in a healthy state in the sense that it is doubtful that we'd see ourselves in a recession for a considerable time yet. Unless something disastrous happens, of course - which businesses are starting to dread. With the UK general election around the corner, we have Ed Miliband, Labour leader, who has certain amount of political influence announces a few policies he wants to implement which then provokes overreaction from large corporations (Boots, HSBC being recent companies coming out), Bank of England and the stock market. In my eyes, they are still scarred by Labour's dark past that occurred many moons ago, and are cautious about the future when they should be concerned and focussing on the present.

So, what are businesses worried about? It could be that come May, we may have a new Prime Minister in Ed Miliband who has different principles and approach to how businesses are funded and influenced in a national scale compared to the current PM. At the moment, we have David Cameron who prides himself to be leading a 'pro-business' Conservative Party and Conservative-led government. For example, in 2012, he backed the Start-up Loans cause which boosted more than a million people's hopes of leading a company of their dreams. And because he's emphasised on this point, many influential business leaders have opened to the press and say they're backing him to do more of what he's done in the last five years, for five years more.

But should the voting public decide they don't want Cameron for another five years, they'd most likely have Ed Miliband as the occupier of 10 Downing Street. Now, Cameron being the former prolific PR man, he's got many journalist friends which is tricky for Miliband who has been on the back foot with the media (apart from lefty Daily Mirror) pounding on every word he has to say. He has therefore found it difficult to articulate his business policy.

The Conservatives have put it into people's heads that because of Labour's 'past' (global recession in 2008 for example), Ed Miliband and his party are 'anti-business'. It came to the point that Shadow Chancellor Ed Balls found himself in a sticky situation when he couldn't name a businessman or woman who backs Labour's policies.

It is easy for businesses and the current government to delve into the past. I can do that, but what am I achieving by doing this? Conservatives have imposed this paranoia about the Labour Party that is pulling British businesses back. Businesses must reflect the attitudes of the people, where that may be the consumer, or their employees. They should embrace any 'challenge' set to them and if having a new Prime Minister is what it takes, then so be it. 

Now, you can argue that some of Labour's business policies are harsh, but I do admire Miliband's vision to change the culture of larger businesses. Labour plan to increase corporation tax - some claim it to be by 1% but others suggest it could rise by 5.5%. It is their way of telling businesses, "Give us more money and what remains will go to the public's pockets". Liberal Democrats have announced something similar but instead said they'd hike the tax by £8 billion as a way to 'reduce the deficit'.

I do sincerely believe that the corporation tax hike on businesses shouldn't happen. But, Miliband reasons well as the larger corporations in particular need to cough up more. They have proven their profit value, however the demand for employee benefits is yet to be seen. The hope of the significant raising of the minimum wage, the hope that they sign a full time permanent contract rather than an insecure zero-hours contract. We hear profit stories, success stories from big companies but staff members which have minimal influence are exposed and are weakened due to their lack of voice. They feel they're doing the hard work but their bosses reap the rewards. This is a problem in both public and private sectors.

These employees would do anything not to be labelled as 'unemployed' and while I'm glad to see more in employment of some sort, it staggers me that many people feel they're forced in a situation of being employed in a job they aren't motivated, mentally, or physically doing because they would be held accounted for by the 'scary' politicians in Westminster. If Miliband keeps to his word and genuinely means that every penny of the corporation tax rise will go directly into the working public's pockets, then isn't that pro-business? Employee satisfaction is just as vital as customer satisfaction.

I have no doubt in my mind that Conservatives are pro-business. Their favourite word is 'profit' and this word is not dirty, as they claim to think Labour perceive that word as filthy. 'Profit' is a great word, as it means that whatever gains that company receives would surely go into the pockets of the many employees as a token of their bosses' gratitude? Not if you believe in the press with reports after reports about massive bonus packages for the hierarchies. There's nothing wrong with a bonus for bosses because they run the business and are arguably the brains behind the innovative and profitable ideas. But there is a sense that certain staff members would be more financially better off if they were 'living on benefits'.

Ah, but David Cameron has ensured that isn't to be the case anymore as he's reduced benefits cap to £23,000 per year from £26,000 (if that person was on many of the benefits the Department of Work and Pensions [DWP] offers). That's absolutely fair enough, but with at least £3,000 taken away from people in that situation, and may have genuinely benefitted their daily needs and means, where does this money go? Paying back the government debt? The last time I saw, we're still borrowing more.

I don't want to point fingers at business owners and the government for thinking of themselves and their needs. But with Labour, it is clear they want 'hard working people' who aren't getting the rewards, to get the rewards. But if you spend 'too much' on them, businesses may be in danger as they have to keep up with demands. There is a need to balance Labour's Robin Hood policy with the Conservatives' 'rich get richer' policy. It's good to be selfish, but give too.

The recent backlash Ed Miliband has received of late can be turned around if more people had faith in him. He is being taunted by insignificant media gaffes and the debate about how much more left-wing can he bring the UK. He needs some big backers to go public. If Obama in the US is busy flirting with Cameron, Miliband can make friends with the Clintons, the potential President-to-be. But he has my backing when it comes to his business policy. He's the opposite to anti, he's the Uncle.