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Brown’s plan to cut tape ‘overdue’, says RMIF

Chancellor Gordon Brown will scrap the amount of detailed descriptions for what companies must include in ‘operating and financial reviews’ (OFRs).

The Retail Motor Industry Federation (RMIF) welcomed Brown’s pledge to cut red tape for businesses, which he announced at the Confederation of British Industry’s annual conference in London yesterday.

Matthew Carrington, the RMIF’s chief executive, said: “We are very pleased that the ball is finally rolling with regard to the Government scaling down business red tape.

“The Government has been rightly criticised for ‘gold-plating’ EU directives, such as that surrounding the annual OFRs. We have repeatedly seen the UK interpret EU regulation to the letter, which we believe has strangled business. This announcement by the Chancellor is way overdue.”

The Chancellor also said steps were being taken to save companies £300 million a year through simplifying tax administration.

Carrington said: “Most businesses in the retail motor sector face multiple layers of regulation, which cost them dearly in terms of both time and money.

“The RMIF will continue to shout long and loud on behalf of its members to ensure these current pledges, and any future Government moves, are not just token gestures, but the start of a sustained effort to finally reduce the burden of red tape on business.”

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