How Space Business Can Be Impacted By UK Political Manifestos: Skyrora CEO’s Vision

19th Jun 2024
How Space Business Can Be Impacted By UK Political Manifestos: Skyrora CEO’s Vision

As the General Election approaches on 4th July, many UK small and medium-sized enterprises (SMEs) are concerned about possible shifts in government policy, as Employment Hero’s survey reveals.

Skyrora CEO Volodymyr Levykin says that since the space sector is crucial for enhancing national security capabilities, it should receive increased support for defence investments in UK businesses.

What Are The Concerns?

Many SMEs are worried about potential new policies disrupting their current operations. The survey has shown that 42% are concerned about changes affecting their business models, 40% fear higher operating costs, and 26% are wary of increased regulations complicating their daily activities.

Labour’s Vision For Small Businesses

Labour promises to keep taxes the same for workers and update tax collection to close loopholes. They plan to improve workforce skills by updating training systems and colleges to meet business needs.

Labour also wants workers to have secure contracts and fair wages, which they believe will boost productivity and stability in small companies. Additionally, they aim to make funding easier to get and support local businesses with better chances for public contracts.

Skyrora CEO Comments On Labour Manifesto

Volodymyr Levykin, CEO and Founder of Skyrora, has voiced his views on the Labour Manifesto. He highlighted the crucial role of the space sector in driving economic growth and job creation for the future.

“A thriving space sector is key to fostering economic growth and job creation for decades to come,” Levykin stated.

He stressed the need for robust support and funding for UK companies through both public and private investment. Such backing, he argued, would position the UK as a leader in the space industry.

“Not only will this help to provide sovereign access to space, but bolster and future proof our national security and defence capabilities, which will only be furthered by greater support for defence investment for UK businesses,” Levykin added.

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