Red tape burden ‘to be cut by £4 million’

The business regulatory burden will be reduced by around £4 million between January and June 2012, according to a recent Government report.

The latest Statement of New Regulation from the Government suggests that there has been a cumulative net reduction in regulation since January 2011, and that the number of regulations which reduce business costs outweigh those which impose additional costs on businesses.

According to the statement, Government departments have also started to remove legislation as a result of the Red Tape Challenge, and further deregulatory measures are in the pipeline for later this year.

Mark Prisk, Business and Enterprise Minister, said, ‘The One-in, One-out process is one of the best tools we have to cut the costs and burden of regulation on our businesses. The system is starting to deliver results, capping the costs to business and then driving them down’.

However, the British Chambers of Commerce (BCC) has called on the Government to take further action to relieve the regulatory burden.

Commenting on the statement, John Longworth, BCC Director General, said, ‘Although the costs faced by businesses have been reduced, the Government has not gone far enough in terms of real deregulation in key areas such as employment’.

The organisation is urging the Government to introduce additional changes, including reforming redundancy rules, introducing no-fault dismissal and tribunal fees, and implementing promised changes to health and safety legislation.

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We are a firm of Accountants based in Harrow, Middlesex offering tips and tax advice to help sole traders, individuals and businesses in the UK grow. We'll also keep you up-to-date with the latest tax news hitting the headlines! We hope you find our blog helpful and appreciate any feedback.

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We are a firm of Accountants based in Harrow, Middlesex offering tips and tax advice to help sole traders, individuals and businesses in the UK grow. We'll also keep you up-to-date with the latest tax news hitting the headlines! We hope you find our blog helpful and appreciate any feedback.

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