Oral Answers to Questions

Debate between Andrew Turner and Mark Hoban

Tuesday 6th September 2011 Commons Chamber

[Mr Andrew Turner (Isle of Wight) (Con)]

8. What fiscal measures he is taking to reduce the costs of businesses which employ less than 25 staff.

[The Financial Secretary to the Treasury (Mr Mark Hoban)]

Small businesses play a vital role in the economy and the Government have taken a number of steps to support them. The Government have provided support for small businesses and employers by reversing the previous Government’s planned £3 billion tax on jobs, reducing corporate taxes and introducing a moratorium on new domestic regulation for micro-businesses.

[Mr Turner]

Does the Minister agree that we should make it as simple as possible to set up small businesses in the UK and get rid of unnecessary regulations and red tape?

[Mr Hoban]

My hon. Friend is absolutely right. We need to reduce the burden of red tape to encourage small businesses to set up and to create more jobs. That is one reason why, for example, we introduced a moratorium exempting micro and start-up businesses from new domestic regulation for three years from 1 April 2011.