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Government plans to cut £10bn of red tape | Government plans to cut £10bn of red tape |
(35 minutes later) | |
The Queen's Speech has outlined plans for a bill to cut red tape, potentially saving British business at least £10bn. | |
For the first time, the plans will be monitored by independent regulators, who are charged with making sure the target is achieved. | |
The bill has also proposed a new Small Business Conciliation Service. | The bill has also proposed a new Small Business Conciliation Service. |
It will help settle disputes between small and large businesses, especially over late payment - an issue that concerns many small businesses. | It will help settle disputes between small and large businesses, especially over late payment - an issue that concerns many small businesses. |
The service will handle disputes without the need for court action. | The service will handle disputes without the need for court action. |
There will also be a reform of the current system by which businesses appeal against business rates, which is intended to simplify the process ahead of a revaluation due in 2017. | |
The government says it also intends to take other steps to strengthen UK competiveness and to back businesses to create jobs. | |
It intends to have made the £10bn worth of cuts by the end of this Parliament. |
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