Small Business Red-Tape Reduction Plans Praised


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Red Tape

The British Chambers of Commerce (BCC) released a statement to the press last week regarding the recently announced first phase of the Government’s plan to “end the excessive regulation that is stifling business growth”. The BCC was welcoming to the news and although obviously they will continue to scrutinise the actions of this new Coalition Government, they believe that the initial signs appear to be very positive.

The first step for new Business Secretary Vince Cable is to review over 200 regulations that were announced by the previous Government and have yet to come into force. These regulations alone are estimated to cost around £19bn in order to implement. Mr Cable has cited the need to reduce regulation whilst also finding other ways to make businesses increase their social responsibility.

In addition to the regulation review, the Government has announced the formation of a new Cabinet ‘Star Chamber’ that aims to reduce the amount of growth stifling regulation that currently plagues small businesses in the UK.. This will enforce a new approach to laws that will have an impact on small business and ensure that costs of legislation are addressed correctly across the entire British economy. There will also be a new ‘challenge group’ that will attempt to come up with innovative solutions to social and environmental problems caused by businesses and attempt to solve them in a non-regulatory manner.

The Business Secretary also pledged a new ‘one in, one out’ approach to any new small business legislation that would only mean it is only allowed to come to pass if a reduction is made to existing red-tape first. These measures are all designed to move away from the previous Government’s position that the only way to solve business problems is to introduce more legislation.



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