RED TAPE CUTS A WELCOME FIRST STEP

Reacting to Government plans to cut the thicket of red tape that businesses face, Kate Shoesmith, Director of Policy at the British Chambers of Commerce, said:

“Businesses have spent too long battling a rising tide of paperwork and costs when they should be focused on customers, investment and growth.

“The BCC’s Policy Cost Stack lays bare what firms are up against. A representative SME with 50 employees is now facing around £827,000 more in annual domestic policy-driven costs than in 2016, an increase of over 70%.

“As a member of the Small Business Taskforce, I know how strongly smaller firms feel about unnecessary bureaucracy. So clearer guidance, simpler reporting and fewer duplicate requests are sensible changes with genuine benefits.

“We have also backed tariff suspensions on goods used by UK businesses, which will help ease import costs and support firms competing in difficult trading conditions.

“But all eyes will now turn to next week’s budget. Government cannot cut red tape with one hand and add new business costs with the other. The message from firms is simple: back business by cutting costs and they will deliver growth.”