"The government has been criticised by firms who say increased employers' National Insurance contributions and the Employment Rights Bill add to the burdens facing businesses. The Chancellor will say at the Birmingham summit on Tuesday that the changes will save firms almost 6bn a year. New, "simpler corporate rules" will remove requirements for small businesses to submit lengthy reports to Companies House, the Treasury said."
""In certain circumstances when new AI technology is being developed, we can remove it from all regulation for a period of time to give it the space to really grow, to develop, to be commercialised really rapidly," he said. This, he said, would enable the tech to be used "to benefit the health, the wealth, the education of our nations". "We'll use that in a very targeted, a very safe way.""
The government will reduce red tape by simplifying corporate rules and cutting administrative regulatory costs by a quarter by the end of this Parliament. Changes will remove requirements for small firms, applying to over 100,000 businesses such as family-run cafes, and aim to save firms almost £6bn a year. Proposals include a crackdown on needless form-filling and temporary regulatory exemptions for new AI software to allow rapid development and commercialization in targeted, safe circumstances. Measures are presented as pro-worker and pro-business and intend to balance deregulation with protections while addressing business concerns about National Insurance rises and employment law burdens.
Read at www.bbc.com
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