LABOUR'S PLANS FOR BUSINESS

That this House believes that Labour's business plans would take business straight to the receivers; notes that the introduction of a statutory minimum wage could cost British industry ú20 billion; further notes that moves to end tax-cutting competition between EC member states would seriously damage British business, which currently enjoys the lowest levels of corporation tax in the EC; believes that the implementation of the Social Chapter, the introduction of a payroll tax, restrictions on working hours and the repealing of key parts of the trade union reforms would threaten British jobs, act as a deterrent to inward investment and damage industrial relations; reaffirms that what industry really needs is low taxation, low inflation, lower interest rates and greater de-regulation; and congratulates Her Majesty's Government on achieving these objectives.