With Brussels announcing its intention to slash more than a third of the current 183 proposals for EU law, Bibby Financial Services is calling on the Government to follow the EUís lead and reduce the regulatory burden faced by UK small businesses.
The move comes as part of the EUís Better Regulation Initiative, which aims to ensure that policy making and legislation in the EU is more effective, competition is kept alive and to stop the unnecessary burdens being placed on businesses.
ìIt is clear that while the European Commission has taken a step in the right direction, the UK Government is still some way behind in putting words into action when it comes to cutting red tape.
ìWith 71%* of UK small business owners and managers citing keeping up with the latest legislation as their greatest challenge for 2005, the Government must listen to the small business voice and fulfil its promises,î said David Robertson, chief executive of Bibby Financial Services.
According to figures from the British Chambers of Commerce, complex legislation has already cost businesses 39bn since 1998.
Echoing Bibbyís sentiments, Lewis Sednick, regulations policy adviser at the British Chamber of Commerce warned: ìThe Government needs to cut regulation and allow owners more freedom to run their businesses. It has been active in stating its objectives to cut regulation but nevertheless there is still more red tape coming in.î
Further setting an example to the UK Government, the European Commission is actively seeking the opinions of small business owners and managers on the obstacles created by red tape via an online survey.
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Bibby calls on UK Government to follow EU and slash red tape
Bibby Financial Services is calling on the Government to follow the EUís lead and reduce the regulatory burden faced by UK small businesses
