Red tape burden blights brits in the City

As the May 5th election looms the politicians battling for votes need to take account of the business voter. Research conducted by Cityjobs.co.uk, a leading financial jobsite, show the party that will win the hearts, minds and votes of the British workforce will be the one that cuts red tape and bureaucracy.

The Cityjob.co.uk research found that the financial industry in particular was hampered by paperwork, concerned about transport & against the Euro.

66% of city workers across Britain cited red tape as an issue

69% of respondents said that better government legislation would enhance work & their general day to lifestyle

65% want improved transport, flexible working and improved educational programmes

61% donít want Britain to join the Euro

46% want the over all tax burden on businesses reduced

47% want tax incentives to increase saving levels for retirement


Keith Potts, Managing Director, Cityjobs.co.uk, explains, The burden of red tape on businesses has increased over the years, and the financial sector in particular has been hampered by this. CBI findings show that red tape costs has increased the cost of employing people by an extra 5bn per year.

In the run up to the election all parties need to look at the effect bureaucracy is having on employees and take this account. People in Britain work some of the longest hours in Europe, additional red tape and poor legislation only makes this worse. Consumers do need to be fully protected however this shouldnít be done at the expense of employees.

Bhisham Dindyal, Sole Practioner of accountancy firm Andertons, Hardworking businesses can easily fall foul of the law if they do not keep track of their regulatory requirements. As employees and customers become increasingly litigious, more and more legislation is passed, individual directors are becoming increasingly likely to face financial penalties, surcharges and the possibility of prosecution for failing to comply with the in ordinate volume of Statutory regulations. Mr Dindyal also added, Red tape has been building over the years and with the growing raft of rules, it directly impacts on both the bottom line and work productivity of any business.