Tony Blair launched his last Labour election manifesto today, stressing his government's support of business and the strength of the economy as reasons for Britons giving him another term in office.
Confirming he would serve one, full term before standing down as party leader, the prime minister revealed his plan to support enterprise, foster entrepreneurship and improve the quality and quantity of skilled workers in the UK work force.
Labour promises in its manifesto to tackle many of the barriers on financing for small and growing businesses.
"Through Business Links we will offer start-ups, social enterprises and small businesses access to tailored intensive support and coaching," the manifesto says.
It pledges to have enterprise education available in every school in the country by 2006. Every college and university, it says, should be paired with a business champion.
Like the Liberal Democrats, but perhaps less dramatically than its rival's plan to abolish the Department of Trade & Industry, a new Labour government will focus its efforts on simplifying regulation.
"We will only regulate where necessary and will set exacting targets for reducing the costs of administering regulations," the party says.
A Labour spokesman was unavailable for comment.
In an effort to simplify, Labour promises to rationalise business inspections. The merger of Inland Revenue and Customs and Excise, it says, will cut the administrative costs of tax compliance for small businesses.
Also affecting small businesses are the prime minister's vow to implement the Low Pay Commission's recommendation to raise the minimum wage to £5.05 in October and to £5.35 in October 2006, despite opposition from many in the business community.
"Retailers breathed a sigh of relief that this Octobers increase was only 4% but this is still above-inflation," said Kevin Hawkins, director general of the British Retail Consortium. "The minimum wage has reached a point where the principle and process need reassessing."
"Many retailers, large and small, are now taking steps to offset some of these wage cost increases by reducing staff hours, cutting jobs and trimming back staff benefits," he added.
Britain currently boasts the highest employment rate in the G7, but a lack of essential skills in their workers has been a growing clarion call among UK employers.
Labour promises a strategy of partnership programmes between government and employers to better fund workplace training, stronger ties with trade unions to boost workplace training, a nationwide system of jobs and skills advice and a national programme to ensure that employees lacking GCSE standards receive time off for free training up to level 2.
Tory leader Michael Howard was first to call the Labour plan "all talk" and told reporters taxes are certain to rise in another Labour term.
The Liberal Democrats have postponed launch of their manifesto until Thursday while leader Charles Kennedy takes a short paternity leave with his wife and newborn son. Deputy Leader Sir Menzies Campbell warned voters to take the Labour manifesto with "a pinch of salt."
