FPB calls for tax system to be 'streamlined'

Date: 5th October 2010

Small business owners operating in various UK industries could be among those encouraged by new calls for a simpler tax system and a reduction in bureaucracy.

Ahead of the coalition's Spending Review later this month, the Forum of Private Business (FPB) has called on the government to simplify regulatory compliance and reduce the "red tape burden" faced by UK firms.

According to the organisation, this would help the coalition's public sector efficiency drive and save small businesses the £12 billion annual cost of complying with red tape.

Phil Orford, the forum's chief executive, commented: "Put simply, the UK's economy … should be run more like a small business, making the most out of the country's valuable resources and ensuring that all departments work together to create and promote a real culture of enterprise.

"Our members frequently complain of duplication, confusion caused by different public bodies and excessive bureaucracy. We have a rare chance to remove these barriers to business growth in this Comprehensive Spending Review. It should not be missed."

Chancellor George Osborne will present the Spending Review to Parliament on October 20th.

Posted by Emma Clarke