IoD: Moratorium on Red Tape not enough

The Government’s pledge to exempt the smallest businesses from new domestic regulations doesn’t go nearly far enough, the Institute of Directors (IoD) has said. The Chancellor confirmed in the Budget that the Government is introducing a three-year exemption from all new domestic regulation for small firms with fewer than ten employees, and will open a consultation on how this will be introduced. The IoD said that there was a danger that these micro businesses would be hit with an unmanageable red tape burden after the moratorium is removed. The business group also said it was “disappointed” that the moratorium on red tape was only temporary, applies to only the smallest firms, and does not tackle existing administrative burdens. “Over time, the Government needs to make the exemption ... »