reduction plans

Red Tape Reduction Plans Welcomed by Business Groups

Business groups have welcomed the coalition Government’s plans to set up a Reducing Regulations Committee to cut the burden of red tape on small businesses. Announcing the new committee this week, business secretary, Vince Cable, said it would review business laws due to be introduced between June 2010 and April 2011 to ensure they do not present an unreasonable cost to small firms. Research by the Forum of Private Business (FPB) last year showed that meeting regulations costs smaller employers a total of £9.3 billion a year and takes them on average 37 hours a month. Central to the new committee’s role will be monitoring the new “one-in, one-out” approach, which will ensure a new law is only brought in when an existing one is removed. A “challenge group... »