With Labour winning a landslide majority in yesterday’s election, and as long-standing government consultants and advisors on issues pertaining to our industry, the British Association of Beauty Therapy and Cosmetology (BABTAC) has assessed the new government’s Manifesto to see what it could potentially mean for the beauty sector.
Within the new Labour government’s manifesto, small business is at the forefront, with several key pledges pointing towards supporting growth and stability. Identified as beneficial to the beauty industry in particular, the cap on corporation tax at the current level of 25 per cent, as well as the annual investment allowance for small businesses, promises to help smaller enterprises access capital more easily, as well as plan any investments with confidence.
Meanwhile, the pledge to create a new and publicly owned company (Great British Energy) to ensure tougher regulation for existing energy companies, aims to tackle the knock-on impact that soaring energy prices has had on businesses across the UK, as small independents struggle to cover their costs.
Finally, it is good news for apprentices, with Labour introducing a new Growth and Skills Levy, to replace the current Apprenticeships Levy, helping to nurture the next generation of beauty therapists and professionals, which is so essential to the industry.
Of the result, Lesley Blair MBE, CEO of BABTAC & CIBTAC comments, “While a change of guard can bring uncertainty, it also presents the perfect opportunity to align and offer our extensive expertise and experience. We will ensure we offer our support to the incoming Labour Government to assist them in delivering on their manifesto promises – especially those identified as being beneficial to our industry and our members – as well as advising them of additional important matters affecting our sector directly.”
She continues, “We would like to congratulate Keir Starmer and his party and wish them all the very best. We strongly encourage them to collaborate with reputable and professional industry bodies, such as BABTAC, to help optimise their objectives in each sector.”
With the new government sworn in, BATBAC will continue to work collaboratively and advise on key factors affecting the beauty sector, including key topics such as:
• Beauty’s contribution to the economy
• Regulation and licensing
• Education and standardisation of qualifications
• Tax and funding support
• Sustainability
