CBI responds to Enterprise and Regulatory Reform Bill
24 May 2012 02:29 PM
The CBI yesterday responded to the publication of the Enterprise, Regulatory Reform and Repeals Bill.
Katja Hall, CBI Chief Policy Director, said:
"This Bill offers an opportunity for the Government to set out a strategy for growth, but at this point it is light on detail in some key areas.
“The CBI will be looking for measures that will boost confidence, free up businesses, and avoid imposing new barriers to growth.”
On executive pay, Ms Hall said:
"We will judge the changes proposed by the Government on whether they give shareholders the right information and powers to hold companies to account.
“The test for us has always been that changes should not blur the roles of shareholders and boards in a way that slows decision-making, or diverts management attention at a time when the focus should be on growth."
On employment law and deregulation, she said:
“We would like to see a transformational change in the Government’s approach to regulation. There are some promising ideas in this Bill, such as the power to apply sunset clauses to all regulations, and changes to the employment tribunal process.
“But companies will judge the Government’s progress by what changes in their business on the ground. So far, there has been too little progress in too many areas, with the Government’s intended changes yet to filter through.”
Notes to Editors:
The CBI is the UK's leading business organisation, speaking for some 240,000 businesses that together employ around a third of the private sector workforce. With offices across the UK as well as representation in Brussels, Washington, Beijing and Delhi the CBI communicates the British business voice around the world.