Javid’s red tape and jobs pledge

BUSINESS Secretary Sajid Javid has is pledging to cut the cost of red tape for businesses by £10bn in an Enterprise Bill that will help create two million jobs.

In Mr Javid’s first speech as Business Secretary he said he will introduce new measures to support entrepreneurs and job creation.

The Government’s plans will extend to include independent regulators who will be expected to help contribute to the £10bn cuts.

The Bill will also outline a new Small Business Conciliation service to help settle disputes over payment. Small firms are reportedly owed over £32bn in late payments, but many of them are not aware of their rights or are reluctant to launch legal challenges. This service will build on the existing suite of measures to tackle poor payment practices.

Javid said: “Small businesses are Britain’s engine room and the success of our whole economy is built on the hard work and determination of the people who run and work for them.

“As part of our long-term economic plan, we will sweep away burdensome red tape, get heavy handed regulators off firms’ backs and create a Small Business Conciliation Service to help resolve disputes.”

Business minister Anna Soubry added: “This will be a no nonsense Bill to back small businesses and help create jobs, giving financial security and economic peace of mind to hardworking people across the country.

“We will be asking businesses for evidence in the coming weeks and months. We want them to be our partners in identifying and scrapping needless burdens at home and in Europe. It’s important Government gets behind small businesses – enabling them to get finance, get paid on time and get rid of red tape.”

The EU Commission is also announcing a plan of action to remove unnecessary bureaucracy in business, following recommendations for reform from a UK business-led taskforce set up by the Prime Minister.