The Government is set to review almost 22,000 business regulations as part of a drive to cut red tape, and says it will exempt small firms from new legislation for three years.
In a speech to the Federation of Small Businesses last week, business minister Mark Prisk revealed business secretary Vince Cable's plans for a range of measures to help firms grow.

Businesses will be asked to tell the Government what they think of current regulations and how to improve the system. Legislation will be grouped into themes, starting with retail, and the audit will look at almost 22,000 current statutes.

In the coming weeks the government will also consult with businesses on the moratorium to exempt small firms with less than ten employees from domestic regulation.

Other measures include repealing the regulations extending the right to request flexible working to parents of 17-year-olds for all businesses and not extending the right to request time off to train for firms with less than 250 people. Small companies will also be freed from unnecessary audit fees by matching the minimum required by EU directives.

British Chambers of Commerce director general David Frost said: "Businesses will welcome efforts made by the Government to deregulate but they will want to see real action, rather then just words. There has been a relentless flow of regulation hitting businesses over the past few years. This creates costs and uncertainty for business owners and if red tape is not reduced, it will stifle growth in the private sector, and the economy as a whole."

He added: "Ministers have a limited amount of time to deliver changes to free up UK businesses on every high street and industrial estate. These promises to deregulate must become reality and allow British businesses time to thrive."