Bolton and Bury law firm releases survey on new government

Around a month after Labour’s landslide victory in the general election Clough & Willis, which has offices in Little Lever and Bury town centre approached around 400 businesses.

The survey found 36 per cent of North West firms think the new government will be good for business, while around 55 per cent think Labour will be about the same as the Conservatives.

Clough & Willis partner and head of corporate and commercial Andy Herricks said: “Our survey produced some surprising feedback. 

“With the Labour hierarchy being very tight-lipped and coy before the election about potential rises in capital gains tax and corporation tax, political commentators were predicting a backlash against the new government. 

Clough & Willis partner and head of corporate and commercial Andy Herricks (Image: Conker PR)

“That however has not materialised, and business leaders seem to be maintaining a watching brief for the time being.”

Labour was swept to power after winning a huge majority with more than 400 of the House of Common’s 650 seats at the general election of July this year.

This included all three of Bolton’s parliamentary seats.

Clough & Willis’s survey has now been aimed at finding out how businesses all over the North West feel about the new government.

It found that only around seven per cent of businesses considering selling their company are speeding up the process.

This is despite possible rise in Capital Gains Tax which many analysts think maybe announced in the next Autumn Statement or Spring Budget.

ALSO READ: Clough & Willis sees encouraging signs for business

ALSO READ: Little Lever and Bury based Clough & Willis new appointments

ALSO READ: Law firm to help create new wills in aid of 'an amazing cause'

Business owners have also said they would like to see more measure to help drive growth with 50 per cent saying their wanted more funding for employee training.

Around 43 per cent said they wanted easier access to funding and grants for investment, while 21 per cent wanted more advice and support around how technology can aid growth.

Around 14 percent wanted more support with R&D, while in terms of international markets, 43 per cent want to see an urgent renegotiation of the existing trading relationship with the EU.

Around 10 per cent wanted more direct support around how to enter new markets, and 14 per cent think extra support around import and export issues would help.