Partner Article

£14.7m of red tape to be cut

The government announced today that £14.7m of unnecessary red tape will be cut between January and June 2012.

The cuts have been announced, following the success of the ‘One-In One-Out’ scheme.

Business and Enterprise, Mark Prisk 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.”

The statement also showed that the government has started to remove the legislation, and new measures to get rid of the burdens on businesses will be under way later this year.

Lord Curry, Non Executive Chair of the Better Regulation Executive, said: “Economic growth is crucial and all Departments should be aware that everything they do impacts on the growth agenda.

“The business community is looking for evidence and Departments need to recognise that any regulation they introduce will affect business in some way.”

Clive Lewis, ICAEW Head of Enterprise suggested the cuts were just token measures, saying: “In a recent ICAEW survey, over two-thirds (68%) of our members did not know about the commitment to have a ‘one-in, one-out’ approach to business regulation.

“The findings revealed today in the cost of red tape (£4.17 million between Jan-June 2012) are tiny compared to the massive cost of regulation to businesses overall.

“Whilst some of the measures will be welcomed by individual sectors, they will have little impact on the majority of businesses.”

Despite these comments Lord Curry still believes: “The One in, One out rule really works. We need to continue to see more of the same.”

This was posted in Bdaily's Members' News section by Abbie Dowse .