Prime Minister David Cameron has claimed that the Government will be the first administration in modern times to cut the burden of bureaucracy on businesses. In a speech to the Federation of Small Businesses, the Prime Minister said ministers are on track to save businesses £850 million a year by cutting or altering more than 3,000 rules by 2015. Cameron described small companies as the “lifeblood of our economy” and said they would be at the heart of the economic recovery.
Gary from PSI: Labour have also announced a new policy at the conference with Shadow Business Secretary Chuka Umunna saying a future Labour Government would create a Small Business Administration based on the US model if it is elected in 2015. The Small Business Administration would “identify opportunities and remove blockages to business growth, ensuring the voices of small businesses and entrepreneurs are better heard in policymaking”.