Small businesses to benefit from red tape cuts

Furthermore, the number of regulations reducing costs to businesses continues to outweigh the number that are adding a greater financial burden on them.

Business and enterprise minister Mark Prisk said that the process is "one of the best tools" the government has of reducing costs and red tape.

"The system is starting to deliver results, capping the costs to business and then driving them down," he explained.

"But we know that changing the culture of regulation in Whitehall is a long-term job, and all of us in government have to, and will, continue to root out any red tape which poses more of a hindrance than a help to UK businesses."

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