§ Mr. Jim CunninghamTo ask the Secretary of State for Trade and Industry what plans she has to reduce regulatory burdens on small businesses. [131298]
§ Nigel Griffiths[holding answer 14 October 2003]The number of regulations passed by Parliament has fallen by nearly 800, we have cut form-filling and red tape for 700,000 small businesses with the new flat rate VAT scheme; we have abolished automatic penalties for late filing of VAT and we now have the best VAT threshold in Europe for business.
The recent OECD review of EU countries shows the UK has almost the lowest administration cost and few regulations for entrepreneurs than any other EU country.
We are seeking further improvements through Regulatory Impact Assessments. 'Think Small First' and Small Business Europe which promotes better regulation.