Asked by: Baroness Maclean of Redditch (Conservative - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government, with regard to their policy paper Backing your business: Our plan for small and medium sized business (CP 1358), which regulations they will repeal to help cut the administrative cost of regulation to business by 25 per cent.
Answered by Lord Leong - Lord in Waiting (HM Household) (Whip)
We are working across government and with regulators to meet our ambitious target to reduce the administrative burden of regulation to business by 25%. As a down payment on this work, we announced reforms as part of the Industrial Strategy that will contribute. This included harnessing the potential of new technology to make compliance with money laundering regulations simpler using digital identity verification checks and removing requirements and increasing the permissible size for air source heat pumps. We will continue to work with business and stakeholders to identify further administrative savings. We will set out more detail in due course.
Asked by: Baroness Maclean of Redditch (Conservative - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government, with regard to their policy paper Backing your business: Our plan for small and medium sized business (CP 1358), whether they will publish a detailed plan setting out the process and timetable for cutting administrative costs of regulation by 25 per cent for small and medium sized businesses.
Answered by Lord Leong - Lord in Waiting (HM Household) (Whip)
Determining the cumulative administrative costs of regulation that businesses face, has not been done for 15 years. That’s why we are undertaking a baselining exercise to understand the administrative costs of regulation to all businesses, including SMEs. We have considered different analytical options and looked to identify the most proportionate methodology to calculate the baseline for costs.
We are working across government to identify savings to deliver this ambitious target and we will set out our more detail in due course.
Asked by: Baroness Maclean of Redditch (Conservative - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government, with regard to their policy paper Backing your business: Our plan for small and medium sized business (CP 1358), by what date the administrative costs of regulation for business will be cut by 25 per cent.
Answered by Lord Leong - Lord in Waiting (HM Household) (Whip)
We have committed to reduce bureaucracy for businesses by cutting the administrative costs of regulation for businesses by 25% by the end of this Parliament. We are working with taking a whole of government approach toward achieving this by asking all government departments to work with us to meet this ambitious target.