Government promises to cut red-tape burden on businesses

The Government has promised to reduce red tape for businesses and introduce powers to let shareholders hold binding votes over directors’ pay.
The proposals are to be included in the Enterprise and Regulatory Reform Bill, set to be introduced in this Parliament, it was announced at the Queen’s Speech yesterday.
More details will be available when the Bills are published, but a statement from the Department for Business, Innovation & Skills (BIS) says the Bill is set to “reduce inspection burdens on businesses” and “strengthen the legal framework for sunset clauses on regulations”.
BIS also promised to “repeal unnecessary legislation, cutting the burden on business and citizens”. It would overhaul the employment tribunal system and “transform the dispute resolution landscape”.
Meanwhile, a separate Bill is set to propose shared parental leave and “flexible working”.
Business Secretary Vince Cable said: “Securing economic growth through business investment and trade is absolutely essential to recovery. Government’s plans to cut red tape, boost green investment, reform the competition landscape and reform the banks are vital moves that would help strengthen the business environment and boost consumer and business confidence.”