Business is to have input into the government’s regulatory reform bill, which will be published at the end of this year.
John Hutton, the minister responsible for pushing the bill through parliament, will hold a wide-ranging consultation with the business community, aimed at cutting corporate red tape and creating a more competitive environment for UK plc.
Labour is unveiling its third-term legislative plans in the Queen’s Speech today, and plans to cut the regulatory burden are expected to be at the heart of its business strategy.
The bill is not expected to be brought before the Commons before January next year, and Hutton will release a consultation paper in the summer to make sure the bill reflects the needs and priorities of the business community.
This initial legislation has to be passed in order to allow the government to continue to reduce the backlog of outdated regulation. It follow the regulatory reform bill that was passed in 2001.
Each Whitehall department has been set clear targets in order to slash the regulatory burden within its own field of responsibility within five years.
The government also plans to drastically reduce the number of regulatory bodies, from 35 to possibly as few as nine, as a result of the Hampton report published last year.
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Satvir Bungar promoted to managing director in the mergers and acquisitions team
Carolyn Brown appointed as the first head of client legal services practice RSM Legal
UK senior partner Phil Verity has been elected for a second term at Mazars