Vince Cable has announced today plans to cut or remove totally 160 regulations. Business Secretary Cable explains “We have to roll back the number of rules and regulations that our businesses have to deal with if we are to create the right conditions for sustainable economic growth. We have heard these promises by successive governments before but these first proposals from the Red Tape Challenge show that we’re serious about doing that and we are making real progress”.

The Coalitions recent decision comes after a large amount of comments directed at the regulations was made from a number of small businesses. Not only are the regulations time-consuming, they are costing businesses money in the way of missed business opportunities. Let’s hope they stick to their promise!