There is no doubt that by putting a stop to further business legislation and simplifying existing regulation would boost job creation significantly.
According to Gerald Irwin of Sutton Coldifield based licensed insolvency practitioners and business advisers, Irwin Insolvency, “Many businesses are looking to expand but are far too worried about the complexities of legislation to do so. Furthermore, most are strongly influenced by the regulatory burdens they already face.”
Various bodies are calling on the government to halt all new business regulation until a real and sustained growth in the economy takes place. They are also calling for a simplification of current laws, particularly those relating to maternity and paternity law, discrimination law and health and safety legislation.
“The burden that spurious regulation puts on small businesses cannot be underestimated especially at a time in the economic cycle where thousands of small businesses are unsure about their future” added Mr. Irwin.
Many businesses will be seeking to employ additional staff once the downturn shows signs of significant easing. The government should now be looking to give the UK’s regulatory environment a strategic overhaul that could well provide economic stimulus to boost both growth and employment.