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FSB doubtful of red tape removal

Date Added: 13/08/2010  

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Companies receiving business debt advice may not be free from red tape as soon as they believe, experts have suggested.

According to the Federation of Small Businesses (FSB), the coalition government has gone no further than the previous Labour administration when it comes to reducing bureaucracy.

Stephen Alambritis, spokesman for the group, has therefore told the Financial Times he doubts whether it will be completely removed.

Indeed, he said the coalition government has so far offered only "good intentions and warm words".

Business secretary Vince Cable recently announced that the government is looking to reduce the amount of red tape that affects company bosses.

Under its new One-in, One-out system, ministers who propose regulations that impose costs on a firm will have to nominate another rule with a comparable value to be scrapped.

Business secretary Vince Cable said this marks a "fundamental" change in how Whitehall uses its power to regulate.

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