British Chambers of Commerce concerned about red tape
The British Chambers of Commerce has reiterated a growing concern in the business arena with regards to an ever increasing amount of red tape. It is estimated that red tape cost the UK business arena around £88.3 billion last year, which was a £11 billion increase on the previous year. So what can the new coalition government do?
The main problem appears to be coming from the European arena where an ever increasing flow of regulations are hitting the UK business arena. While the UK government has promised not to increase red tape in the short to medium term, and indeed look to reduce the burden to businesses, there is growing concern about the power grab emanating from Europe. It will be interesting to see how the government tackles the growing problem of European laws integrating within the UK because ultimately the Labour government signed away many vetoes formally negotiated by previous governments.
When you consider the £88 billion cost to the UK's business arena it is not difficult to see why associations such as the British Chambers of Commerce are demanding action as soon as possible. Quite what the UK government can do in the short term remains to be seen but there have been some ambitious pledges made by David Cameron and his team.
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