Seeking growth, UK takes ax to business regulation

AP News
Posted: Sep 10, 2012 7:33 AM
Seeking growth, UK takes ax to business regulation

LONDON (AP) — Britain's government says it will scrap hundreds of regulations affecting businesses, in the hope of boosting the country's lackluster economy.

Business Secretary Vince Cable announced Monday that firms would be made exempt from up to 3,000 health and safety laws and other regulations.

"Businesses need to focus all their energies on creating jobs and growth," Cable said.

Safety laws are being loosened for most businesses, aside from hazardous sectors such as construction or for companies with a record of poor performance.

University Corruption
Walter E. Williams

However, experts on health and safety said they were skeptical the changes could provide any spur to economic growth.

Ministers also said the plans would not make it easier for firms to fire employees.