§ Mr. SteenTo ask the Prime Minister what is the total estimated annual saving to business which will accrue in respect of the rules and regulations he identified for repeal in his answer of 6 November,Official Report, column 546. [2065]
§ The Prime MinisterIn addition to the £40 million savings identified in my answer of 6 November,Official Report, column 546, further examples identified include: £30 million a year from simplification of trade marks legislation; £23 million a year from changes in the regime for the slaughter of poultry; £10 to 15 million a year from simplification of the procedures under the Companies Act 1985 for companies which have ceased to trade; cash flow savings of £75 million a year as a result of raising the threshold of the quarterly payment of PAYE and national insurance contributions from £450 per month to £600 per month. The total annual saving to business arising from all regulations identified for amendment or repeal is not available.