09.05.12
Business bills will help ‘secure economic growth’
The Department for Business, Innovation and Skills has said the two bills it has planned for the next session of Parliament will “strengthen the business environment and boost consumer and business confidence”.
The two bills – theEnterprise and Regulatory Reform Bill, and the Groceries Code Adjudicator Bill – were outlined in the Queen’s Speech today.
The key changes include measures to define the scope of the Green Investment Bank, which will be based in Edinburgh, and ensure its independence; to implement the competition landscape reforms; overhaul the employment tribunal system; cut “unnecessary red tape” for businesses and reform directors’ pay, BIS said.
Business Secretary Vince Cable said: “Securing economic growth through business investment and trade is absolutely essential to recovery. Government’s plans to cut red tape, boost green investment, reform the competition landscape and reform the banks are vital moves that would help strengthen the business environment and boost consumer and business confidence.”
The proposed Groceries Code Adjudicator (GCA) will uphold the Groceries Code to address the dominance of the top supermarkets and ensure suppliers are treated fairly and lawfully.
One of the biggest measures in the Queen’s Speech, on parental leave and flexible working, will be introduced jointly by BIS and the Department for Education.
(Dr Vince Cable image: copyright BIS)
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