§ Lord Taylor of Warwickasked Her Majesty's Government:
What further plans they have to reduce the burden of red tape regulation affecting the small business sector. [HL4189]
§ The Parliamentary Under-Secretary of State, Department of Trade and Industry (Lord Sainsbury of Turville)Independent research has established that the UK is not over-regulated compared to other countries but the Government keep the impact of regulation on the small business sector under constant review. We have taken action in a number of ways. Some 700,000 businesses have benefited from the flat rate VAT scheme introduced in the 2002 Budget. Businesses can register to receive alerts about regulations automatically on the Business Link website(www.businesslink.org) which provides advice
150WAthe latest available year, broken down by household income bands of £0 to £5,000, £5000 to £7,500, £7,500 to £10,000, £10,000 to £15,000, £15,000 to £20,000, £20,000 to £30,000, £30,000 to £50,000. and over £50,000 or the closest bands available. [HL4272]
§ The Parliamentary Under-Secretary of State, Department for Work and Pensions (Baroness Hollis of Heigham)The available information is in the table.
on compliance. Regulatory impact assessments have to be produced for all new regulations. Much regulation is initiated in Europe and the Small Business Service has set up an independent office to represent small businesses in Europe. Small business now enjoys a 12-week period between regulations being agreed and implemented.