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The decline in growth rates of new companies is very worrying. We cannot have the things we need as a modern country if we are not sufficiently enterprising. The burden of tax and bureaucracy heaped on businesses must be tackled and very significantly simplified and reduced.

Life is tough in the new / medium small business sector for all sorts of reasons.
As someone who works almost exclusively in the sector I can confirm that red tape is a serious problem. Banks generally are "upping their criteria" what was acceptable as security a year ago is not acceptable today. One example, not always known, is miss a VAT payment and suffer a 5% penalty (even late by one day - and this government has eliminated latitude) next time 10% penalty the next 15% penalty. It has driven some enterprises out of business.

Here, in wales, grant aid is being reduced, the "Welsh Assembly Government" is about to change a number of its pen pushers into business consultants making the initial diagnosis of business need;these are people who have never worked in any business that had to derive a profit nor have they any qualification relevant to business.

The underlying problem is to establish business friendly solutions something that simply cannot happen under this government or any supported by the libdemented.

Regulatory burden increasing
Unfortunately every government talks about cutting regulation and ends up increasing it.

How about a list of 10,000 regulations to abolish under the Deregulation and Contracting Out Bill, that would be a good start.

Or a rule that for every new law introduced, one must be repealed.

This report vindicates the reports by John Redwood's Economic Competitiveness policy group and Lord Forsyth's tax commision. Osborne could have saved time and money by listening to those Thatcherites, dismissed as dinosaurs by the Cameroon modernisers.

Osborne and Hammond must deliver policies that promise cuts in taxes and spending. It is time to bin the "share the proceeds of growth" statism.

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