Oral Answers to Questions

Debate between Stephen Hammond and Mark Prisk

Thursday 24th May 2012 Commons Chamber

[Stephen Hammond (Wimbledon) (Con)]

1. What steps he has taken to reduce the burden of regulation on (a) small and medium-sized and (b) other businesses.

[The Minister of State, Department for Business, Innovation and Skills (Mr Mark Prisk)]

The Government take a comprehensive approach to cutting the burden of red tape. We have capped the cost of new regulation, identified hundreds of existing regulations to be scrapped, and introduced a moratorium on regulation for all micro-businesses.

[Stephen Hammond]

Small businesses in Wimbledon tell me that the two incentives to growth are access to lending and deregulation. Will my hon. Friend be a little more explicit about what the red tape challenge might bring those businesses in my constituency?

[Mr Prisk]

Progress on the red tape challenge is very important. We have now reviewed some 1,500 regulations, and Ministers have agreed to scrap or substantially overhaul 59% of them—some 887 regulations. That will make a real difference to businesses in Wimbledon and, indeed, elsewhere.

Oral Answers to Questions

Debate between Stephen Hammond and Mark Prisk

Thursday 14th July 2011 Commons Chamber

[Stephen Hammond (Wimbledon) (Con)]

T1. If he will make a statement on his departmental responsibilities.

[The Minister of State, Department for Business, Innovation and Skills (Mr Mark Prisk)]

The Department is responsible for reducing regulation, increasing trade, growing the economy and promoting excellence in higher education and skills.

[Stephen Hammond (Wimbledon) (Con)]

With regard to deregulation, the Minister will have seen the report from the CEOs conference held by The Times, which suggests that an unencumbered supply side is key to growth. One of the key recommendations was moving to faster deregulation—far from one in, one out, it hoped for five out and only one in. Can he make any statement on that?

[Mr Prisk]

I am always keen to accelerate matters, but it is worth putting it on the record that in the past 12 months this Department alone has been able to scrap regulations that would have cost business £430 million every year. It is a good start, but, yes, we want to move forward.