Tories pledge to save firms £10bn

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Published: Saturday 7th February 2015 by The News Editor

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The Tories are pledging to save businesses £10 billion over five years by cutting red tape.

Achieving the target for the next Parliament would cut firms’ costs by an average of £2,000 each, according to the party.

Business minister Matthew Hancock said the coalition had already made changes that had curbed bills by £10 billion since 2010.

Measures have included increased flexibility on company audits, said to have saved £300 million a year, and scrapping paper vehicle tax discs.

The fresh deregulation drive would initially focus on agriculture, railways, energy, construction, retail, travel operators and the chemical industry.

“Today we commit to an ambitious goal to do more to cut red tape so our nation’s employers can grow and create jobs,” Mr Hancock said.

“We are proud this has been the first Parliament to reduce the burden on employers.

“A future Conservative government will ramp up our efforts to tackle stubborn regulations across a broader range of sectors.

“Healthy businesses are the backbone of a strong economy and our plan for red tape will help create more jobs and make sure Britain is better off.”

Published: Saturday 7th February 2015 by The News Editor

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