Red tape cuts help business
Dec 16 2009
Companies have saved nearly £3 billion a year in a government drive to slash bureaucracy, but more needs to be done to cut red tape says the Forum of Private Businesses (FPB).
More than 280 changes to regulations have helped save UK businesses £2.9 billion a year, claims a report from government body the Better Regulation Executive.
Ian Lucas, Minister for Business and Regulatory Reform, says: ‘Delivering the right business environment to promote growth relies on creating a flexible regulatory framework that minimises costs to business but ensures essential protections and rights are in place. Better regulation, with simplification at its core, is making that possible.’ However,
Matt Goodman, policy representative at the Forum of Private Business (FPB), says that small firms still experience too much unnecessary paperwork: ‘We would argue that more fundamental regulatory changes are needed which will create real savings for businesses, and that’s what we’re lobbying to achieve.’
The government’s target is to cut administrative work for businesses by 25 per cent by May 2010 in a bid to save £3.3 billion. It recently announced further plans to save £6.5 billion by 2015.
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