boost economy

Red Tape

Red Tape Freeze needed to Boost Economy

The Government must freeze new business regulation and simplify existing red tape if it wants to create new jobs and tackle rising unemployment, the Federation of Small Businesses (FSB) has claimed. The FSB said an overhaul of the UK’s existing regulatory framework could give the economy a second economic stimulus, and urged the Government to cut “confusing bureaucracy” which it said was stifling growth. The business lobby group has also called for the Government to freeze all new regulation during the recession and for eighteen months after recovery. FSB chairman, John Wright, warned that the burden placed on businesses by “unnecessary regulation” should not be underestimated in the current economic climate. “Around half of all firms planning to close o... »