The first meeting of the cabinet committee whose aim is to cut through the red tape for businesses has taken place, chaired by Vince Cable Business Secretary. The Reducing Regulation Committee has begun its formal business by launching a review of regulations which have yet to be ratified having been introduced by the Labour administration.

Other members of the committee include Small Business Minister Mark Prisk, Cabinet Office Minister Francis Maude and Chief Secretary to the Treasury Danny Alexander.

Mr Cable, chairing the meeting stated: “As the Deputy Prime Minister said, we need to change the balance of power away from the state and back to individuals, businesses and communities. For too long, there has been a misplaced notion that Government’s job is to regulate. That is not the case. Regulation should be the last resort. This committee, along with the new ‘challenge group’, will help change the culture of Government and find new ways of solving problems, reducing the red tape that is strangling enterprise.

He continued: “We need businesses to drive the growth our economy needs, not be tied up with form filling, and the Government is determined to do all it can to make that happen.”

All proposed regulations will come through this committee where they will be stress tested. Only those proposals deemed to be of a high quality and priority will proceed. They will also operate on a one-in, one-out system to ease the burden of too many regulations.

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