Measures
to reduce the cost of red tape to employers need to be introduced by the
Government in its budget if it is to convince UK firms that it is sensitive to
business concerns.
This
is the message from the British Chambers of Commerce, which has called on the
Government to reform the regulatory environment and reduce business taxation in
its 2001 budget submission.
The
submission argues for a commitment from the Prime Minister to present an annual
regulatory budget to highlight the cost and benefits of new regulations.
Chris
Humphries, director general of the BCC, commented, “The strong message coming
from business is that the sheer quantity of unnecessary red tape is damaging
our economy and stifling enterprise, job creation and growth.
“Ahead
of an expected election firms will be looking for the Chancellor to do more
than tinker at the margins. Government must adopt and engage in a radical
approach to regulatory reform.”
Humphries
also raises concerns about the impact of the rising tax burden on business
productivity, pointing to OECD figures that show UK direct taxes on businesses
are almost 50 per cent higher than those in the US.
By
Ben Willmott
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