STEEPLE - Political factors

Question 1

what is the meaning of ‘political factors’

Answer 1

mainly refers to decisions made by politicians

Question 2

what are some real examples of political factors?

Answer 2

• 5 conservative Prime Ministers since 2010
• Announcement to expand free childcare
• General election July 2024
• Grants for businesses to install electric car charging points

Question 3

how does having conservative PMs impact business certainty?

Answer 3

negatively as policies may change as well as laws and regulations

Question 4

how is investment affected by uncertainty?

Answer 4

investment stalls due to outcomes being unknown
- no loans
- investors want a return on investment

Question 5

why are the government making childcare free?

Answer 5

encourages people to go back to work because they don’t have to stay home to look after their children
working is more financially worthwhile

Question 6

what is the impact of the general election in July 2024?

Answer 6

policies will change depending on who gets voted in

Question 7

what is the impact of gov granting electric car points?

Answer 7

electric car charging points will increase as businesses don’t have to pay for them themselves

Question 8

what are political factors affecting a business?

Answer 8

• leaving the European Union
• competition policy changes
• privatisation
• legal changes or new laws
• economic policy
• employment policy
• political manifesto announcements