TWO of the coalition’s most senior ministers are driving through a raft of red-tape cutting, in a bid to ease the regulatory burden on businesses.
Business minister Michael Fallon, and Cabinet office minster Ken Clarke (pictured) have provided details on more than 3,000 regulations to be culled or refined through government initiative The Red Tape Challenge since 2011.
More than 800 regulations have been dealt with in the past two years, with the remainder set to be removed or improved during this parliament. Businesses are expected to save more than £850m a year from the cuts.
“We are determined to increase the scale and pace of progress on the better regulation agenda – at home and in Europe,” said Fallon. “On my watch, the government will continue to support our job creators and put enterprise before bureaucracy every time.”
Initiatives include: the filing of accounts and tax return at the same time, using iXBRL; reducing 100 overlapping housebuilding standards down to ten; and reducing 100,000 pages of environmental regulation by 80%.
The Deregulation Bill was introduced to parliament last week by Clarke. He said: “By building on the vital work of the Red Tape Challenge team and removing some of this unnecessary red tape, the Deregulation Bill makes an important contribution to reducing costs and time-wasting burdens on managers in order to improve and unleash the potential of British businesses to compete not just domestically, but around the world.”