Category: Contractor Industry News

British firms, such as contractor umbrella companies, are facing collective red tape costs of £88.3 billion, it has been claimed.

According to the British Chambers of Commerce (BCC) Burdens Barometer, this figures has risen by more than £11 billion in just a year, outing huge pressure on businesses.

It highlighted the 40 additional regulations that companies now have to deal with, such as vehicle emissions standards and community infrastructure levies.

This creates a "clear problem", said BCC director-general David Frost.

"The cost of dealing and complying with new laws and regulations over the last 12 years has been far too high," he said.

Businesses should be driving economic recovery and creating jobs but the government needs to play its part by halting the "relentless flow" of red tape, Mr Frost continued.

Small firms in the UK have already proved their resilience and adaptability, Steve Cooper, managing director at Barclays Business has said.

Posted by Sarah Putt