I cannot speak on Mr Watkins behalf, but understand much reference he makes usually refers to SME's, i.e., he's localising an issue but fails to state this fact.
So, lets just say, in our neoliberal, cut-throat economy, big, multi-national corporations get all the breaks, the little people, be it a small pub & eatery or bakery or small engineering business get nothing, despite these same businesses offering decent paid employment above the national minimum.
Its these, local, community-based businesses that are stressed, i.e., local business rates can be horrific, not withstanding any rent paid or the massive increase in energy costs that they struggle to manage. Are these not the type of businesses we wish to retain and see through an economic downturn if we desire full employment?
Of course, if we apply this to the big boys, such as Asda or the privatized water businesses, this makes zero sense, but when applied to SME's, that is reducing upfront costs such as excessive business rates and employee NI contribution it makes a big difference in survival and retaining employees if in exchange for this support those businesses that are assisted don't layoff staff for a minimum 12 months.
That's how I look at it and I've never been anti-community businesses or small scale, specialist operators who only just about manage in the best of times.
Again, I care little for greedy buggers who use their businesses to exploit and pay themselves large cheques, with company cars and big, private pension pots at the expense of paying their employees a living wage - not all small businesses are evil.
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