Business leaders urge a cut down on EU red tape

A taskforce put together by Prime Minister David Cameron has produced a report which says cutting down on EU red tape could save UK firms billions of pounds.

The taskforce, comprising of six business leaders including Marks & Spencer chief executive Marc Bolland and former Diageo chief executive Paul Walsh, said relaxing the rules on health and safety compliance alone may save £2bn.

As a result of the recommendations in the report, David Cameron has said he will take the fight on red tape to the EU.

The major recommendations in the report include proposals to:

• scrap the requirement for all SMEs (small and medium enterprises), irrespective of their business, to keep written health and safety assessments;
• abandon plans to force sole traders to pay fees to register to collect and transport waste even in small and harmless quantities;
• streamline "costly and complex" chemicals legislation;
• fast-track plans for a cap on fees for payment by credit card, online and mobile phone.

The Prime Minister said, "This report makes clear that there are lots of simple and practical ways to cut EU red tape and save businesses across Europe tens of billions of euros. We must now persuade our European partners and the European Commission to listen to business and to move faster to reform the way Europe regulates."

He has also written to other EU leaders to urge them to commit to "concrete measures" to reduce superfluous regulation when they gather in Brussels next week. "I will be calling for a clear commitment to sweep away unnecessary burdens and to unleash private sector growth," Mr Cameron said.