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Outdated solutions to modern-day problems.

Byline: RUSSELL LUCKOCK

2015 has been quite a year for Jeremy Corbyn, for he has married for the third time and become leader of the Labour Party with a strong mandate for change.

The next few weeks are, from a political point of view, going to be very interesting as to exactly what policies are going to be adopted. Even Tom Watson, newly elected deputy leader, when appearing on the Andrew Marr show, was not exactly sure as to the precise direction the new leader had in mind.

So how will this vote affect thousands of small businesses throughout the United Kingdom if Jeremy Corbyn ever becomes Prime Minister? Well, for a start, taxes will go up, for he has already stated that corporation tax is one of his prime targets, plus income tax rates rising to at least 50 per cent and more for the wealthier. So, less capital to invest in business, which will result in companies becoming less competitive.

He said during the course of his election campaign he wished to see a two-tier retirement age, with manual workers finishing in their late 50s.

That will cost a lot of money. He is dead set on renationalising the railways, without compensation. This alone is a worrying thought for train operating companies and, in my view, is a daft idea, having regard to the fact more people are travelling by rail than ever before, especially the young and pensioners.

Why destroy success? He wishes to cancel HS2 and there I do feel he has a point, for the money saved could be spent on reopening dozens of closed lines and stations, which in turn will provide more jobs.

He also wishes to cancel Trident which would leave us with very little protection from our enemies although, here again, I do just wonder if submarines are the best defence having regard to the fact we now have the ability to despatch armed drones to a target with pinpoint precision.

Overall, this swing to the left is not good for British business and, if Labour came to power, would put the clock back some 40 years.

It does not recognise the world has moved on and today's problems will not be solved by yesterday's strategies.

Hopefully, wiser councils within the Labour Party will prevail, and the electorate realise that Corbyn's path is fraught with danger.

Russell Luckock is chairman of pressings firm AE Harris

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Publication:The Birmingham Post (England)
Date:Sep 17, 2015
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