The Business Secretary is raising the bar for any new business regulations, in the latest step to help British businesses flourish.
A new White Paper, published today, uses newfound Brexit freedoms to set out ten common-sense principles that whip the regulators into shape and help businesses grow.
The principles will introduce a new rule that means new regulations can only be introduced when it is “absolutely necessary.” This means your local business won’t face an unexpected and unnecessary regulation like the changes we’re consulting on that will make it easier for bars and pubs to serve you a drink on a terrace.
They will also give local café’s the freedom to self-certify in certain cases, to prevent them being harassed by inspections and mandatory training courses, and puts a burden of growth on the regulators by making them explain how they are helping businesses grow.
This marks the latest step in Government efforts to make regulations more effective and less burdensome for businesses – known as the Smarter Regulation Programme.
The Programme – which was launched just last year – has already introduced reforms saving 50 million hours of admin work per year for businesses, saving them an estimated £1 billion, which has been pumped back into the economy.
This runs alongside common-sense measures that will help to make al fresco drinking a permanent feature of the British high street – helping boost pubs across the country and allow punters to enjoy a pint in the sunshine. The Department will also lay out plans to redefine what a ‘medium business’ is so fewer firms have to produce lengthy ‘strategic reports’ – saving around 43,000 firms up to £150 million a year.
“This government is seizing the benefits of Brexit by reducing burdens on business, pushing down the cost of living, and driving growth in every corner of the economy.
“The Smarter Regulation Programme I launched last year is ensuring that our regulations work for the job-creators and wealth-makers of the economy.
“The reforms we outline today will give entrepreneurial businesses more opportunity to innovate, experiment, and capitalise on the UK’s global leadership in key sectors.”
“Supporting businesses can only work if we provide them with the environment to thrive and grow.
“This Smarter Regulation package is about providing a world class service for businesses, consumers and society as a whole so we can create an economy that fosters innovation and investment and encourages growth.”
Key features of the White Paper include:
These new measures will continue to deliver on the government’s commitment to grow the economy and ensure that the UK has one of the most innovative and agile regulatory regimes in the world.
This is about establishing a high bar for regulation and imposing costs on businesses but is fully consistent with acting where that bar is met and where we need to protect consumers, businesses and the environment – for example the government’s steps to increase regulatory scrutiny in the water sector.
“Small firms suffer more from badly-designed and overly-burdensome regulation than larger companies, so measures to rethink the regulatory landscape, with the aim of removing unnecessary and often self-contradictory regulatory requirements, are welcome. Today’s announcements fit well with FSB’s regulatory proposals that we have discussed with DBT and No.10, to streamline requirements, unlock untapped economic growth, and help make sure regulators focus on the needs of small businesses.
“We’re especially pleased that the Government has adopted the principle of regulating as a last resort, instead of as an instinctive first response. Ensuring that the views of small firms are listened to throughout these consultation processes will be key, and will lead to a more agile framework, with requirements that are clear and proportionate to the size and complexity of a business.”
“The UK’s leading role in so many innovative industries ─ from life sciences to financial technology ─ is underpinned by the supportive environment our entrepreneurs operate in. An effective and proportionate regulatory regime is key to creating the ideal conditions for our most innovative companies to scale and grow, and to help investors like ourselves to back them with the finance they need.”
“Regulation, including the work and independence of regulators, is critical to the UK economy – safeguarding the interests of consumers and enabling good business practice. Through a practical framework based on co-creation, the UK’s regulatory landscape can help simultaneously boost innovation, competitiveness, and compliance.
“The use of smart, proportionate regulation has the potential to form the basis of a renewed global calling for the UK, instilling greater confidence in the regulatory landscape and easing the burden on many sectors.
“Reshaping the UK’s regulatory regime to ensure it is focused on outcomes, not just process, will be key to delivering sustainable growth across the economy.”
“An efficient, proportionate and agile regulatory environment is vital to driving economic growth and making the UK an attractive place for businesses to invest. Reforms under the government’s ‘smarter regulation’ programme, including greater scrutiny when introducing regulation, are therefore very welcome. A dynamic regulatory approach helps create jobs and growth. An uncompetitive one chokes off investment. We look forward to working with government and regulators to deliver progress in this area and ensure the UK continues to be an attractive place to do business.”
The government is seeking views on a number of common-sense changes that will deliver simpler, clearer regulations. These include:
Full Written Ministerial Statement – Smarter Regulation Programme Update
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