Governments can raise or lower corporation tax value-added tax (VAT) on products or business rates - This can impact profits. If the rate of VAT is raised a company will need to increase their selling price which may reduce sales, Government can implement new laws like the National Minimum Wage - Impacts on profits as the wage costs of the business will rise, The vote to leave the European Union - The impact may be negative (a loss of trade with EU customers) or positive (less restrictions placed on firms by EU lawmakers)., Governments can introduce new health and safety legislation - This means that a business may have to change the way it works, for example by training its staff or upgrading its machinery or safety equipment, The main aim of competition policy is to ensure... - that there is fair competition in the market., Competition Policy can stop businesses colluding - with other organisations to fix prices. This is known as a cartel. Businesses may be fined if they are found to be partaking in a cartel. They may also be forced to change their prices, Competition Policy can block mergers - or takeovers that would lead to a considerable decrease in competition in the market.Businesses may be forced to sell off branches or divisions to ensure that enough competition remains in the market, Competition Policy can stop businesses from making agreements - with other firms when tendering for projects. businesses from making agreements with other firms when tendering for projects. If they are found to be doing this they may be fined for anti-competitive behaviour, Competition policy can prevent - monopolies from occurring. A monopoly occurs if there is only one supplier of a particular product or service, Economic policy is  - the behaviour of the government in influencing the economic performance of the country., Economic policy involves... - Taxation, government spending, interest rates, Fiscal policy - this area deals with tax rates and the level of government spending, Monetary policy - this area deals with setting interest rates and controlling the supply of money in the economy, Increased competition encourages suppliers to maintain - a good price and a high quality service so they remain competitive against other suppliers. ,

2. Business Environment - Political Factors

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