Liz Truss donor rages at petty regulations crippling UK family firms

Lance Forman warns of ‘petty regulations’

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Former Brexit MEP Lance Forman has spoken out over the need for Liz Truss to get a grip on excess regulation that is hampering small UK firms. The family business owner joined outside the Conservative Party Conference in Birmingham to talk about the Prime Minister’s agenda for delivering economic growth. 

Mr Foreman told “90 percent of small businesses in the UK are small family businesses, the number one reason why family businesses decide to pack their bags and just give it all up is not because they haven’t got a succession or someone to pass it on to, it isn’t because the business doesn’t make any money to pay their bills.

“It’s basically people getting fed up with red tape.

“Just petty little regulations, people just come to work and they think you know what I don’t need this headache any more and they give up.

“Just running a small business is very challenging, big business loves it.

“Big businesses have whole departments dealing with bureaucracies, they love it, and they love the fact that small businesses are struggling.

“Because it means less competition, less new companies coming through to compete with them.”

Friday saw Ms Truss fire her finance minister Kwasi Kwarteng and scrap parts of their economic package in a bid to survive the market and political pressure, throwing plans to deregulate into doubt.

Earlier in the week British business minister Jacob Rees-Mogg said the government had not shelved plans to deregulate parts of the economy, after a report that disagreements at the top of government had delayed its programme.

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The Prime Minister has vowed to reignite economic growth by reforming planning rules, workers’ rights and immigration while cutting tens of billions of pounds of taxes.

The unfunded tax cuts have caused turmoil in financial markets and The Times newspaper said the Government had now been forced to delay any announcements on reform because Mr Rees-Mogg and Truss could not agree the details.

Mr Rees-Mogg said the plans remained on track.

He told Times Radio: “We’ve got the big plans for deregulation that are continuing.

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“It’s the cumulative effect of many detailed changes rather than one big bang.”

Having triggered a market rout, Ms Truss now runs the risk of bringing the Government down if she cannot find a package of public spending cuts and tax rises that can appease investors and get through any parliamentary vote in the House of Commons.

The opposition Labour party’s Chris Bryant, who chairs parliament’s Committee on Standards and Privileges, wrote on Twitter: “If you can’t get your budget through parliament you can’t govern. This isn’t about u-turns, it’s about proper governance.”

Ms Truss’s search for savings will be made harder by the fact government departments have spent a decade cutting their budgets, while discipline in the governing party has frayed following six years of fractious post-Brexit political drama.

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