The new government: what does this mean for commercial lawyers?

The new government: what does this mean for commercial lawyers?

It all felt very ‘1992’ this morning.

In that year nobody predicted success for John Major’s Conservatives; yet he won the general election of that year with a majority of 21 MPs.

Today, David Cameron exceeded the expectations of commentators and pollsters alike and has clocked up a majority of 12.

https://twitter.com/BBCNewsGraphics/status/596689608244592641

There will be no coalition agreements nor any supply and confidence arrangements. Indeed a reshuffle is taking place now:

https://twitter.com/David_Cameron/status/596701353289846786

So what does the future hold for commercial lawyers?

Here’s what has caught our eye in the Conservative Party manifesto.

  • Red tape: a cut of a further £10 billion of red tape over the next Parliament through the Red Tape Challenge and One-In Two-Out rule
  • Procurement: the target for SMEs’ share of central government procurement will be increased to one-third; the Prompt Payment Code will be strengthened and all major government suppliers will be obliged to sign up to it
  • Late payment: a new Small Business Conciliation service will be established to mediate in disputes, especially over late payment
  • Tax simplification: the Office of Tax Simplification (OTS) will be established on a permanent basis and its role and capacity expanded
  • ‘Buy British’: there will be help for consumers to ‘buy British’ by pushing for country of origin labelling in Europe, particularly for dairy products
  • Supermarkets: t

Subscription Form

Latest Articles:

Already a subscriber? Login
RELX (UK) Limited, trading as LexisNexis, and our LexisNexis Legal & Professional group companies will contact you to confirm your email address. You can manage your communication preferences via our Preference Centre. You can learn more about how we handle your personal data and your rights by reviewing our  Privacy Policy.

Access this article and thousands of others like it free by subscribing to our blog.

Read full article

Already a subscriber? Login