10/12/2008 - Red tape cuts for firms 'on target'
UK businesses could save £3.4 billion a year after it was announced that the Government is on track to meet a target of cutting red tape by 25% by 2010.
A new report reveals that a series of 240 measures aimed at simplifying regulations for firms, charities and the public sector has already saved organisations around £1.9 billion.
Commenting on the report, regulatory reform minister Lord Carter said: "Delivering better, more efficient regulation should strike the right balance between providing essential protections and not stifling business and harming the prospects for economic growth.
"Smart regulation can play a vital role in creating a better economic environment for business now and in the future."
The Department for Business, Enterprise and Regulatory Reform (BERR) has produced a range of online tools to help firms with employment law, including a national minimum wage calculator, guidance and standard forms for maternity and paternity pay and leave and flexible working arrangements.
These tools are helping to save businesses approximately £40 million every year, according to research.
Copyright © Press Association 2008
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