Cut red tape says business body

UK firms are constrained by red tape and held back from investing, which has a damaging effect on the economy, the British Chambers of Commerce (BCC) announced yesterday. The business lobbying group said the government should take five steps immediately to boost the economy. Current regulations should be slashed and no new restrictions introduced, the body said, in line with the government’s previous promises. More quantitative easing is also needed, according to the BCC, which wants lending for small companies and infrastructure projects to be expanded.