HC Deb 13 July 2000 vol 353 cc613-4W
22. Mr. Bercow

To ask the Secretary of State for Trade and Industry if he will make a statement on the level of regulation of business. [128962]

Ms Hewitt

According to the recent research by the OECD and the Economist Intelligence Unit the UK is already more lightly regulated than most of our competitors. We will continue to reduce the level of regulation on business wherever possible.

33. Mr. Clappison

To ask the Secretary of State for Trade and Industry what measures he is taking to simplify and reduce regulations affecting business. [128975]

Ms Hewitt

We are continually looking for opportunities to reduce burdens on business. For example, we have increased the statutory audit threshold for companies from £350,000 to £1 million, benefiting up to 150,000 companies, with potential savings of up to £180 million a year.