Bulletin

Javid pledges to cut £10bn off red tape to help SMEs

Sajid Javid will use his first speech as Business Secretary to commit the Government to cutting at least £10bn-worth of red tape over the next five years, with SMEs intended to be the biggest beneficiaries. During a visit to companies in Bristol, Javid will announce that a commitment to reducing red tape will form part of an Enterprise Bill that will be included in the Queen's Speech on May 27. The bill will also include measures to help small companies to resolve payment disputes with large customers through a small business conciliation service. The Federation of Small Businesses welcomed Javid's plans. Small business minister Anna Soubry said that business owners would be consulted to help to identify 'needless burdens', which could be removed from the statute book. The Business Secretary's speech is timed to coincide with an expected announcement from the European Commission on its own plans to cut red tape across the EU.

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