PM announces plans to cut red tape, kick start lending and up exports.
In his first speech as Prime Minister, David Cameron promised to aid companies by cutting red tape, improving the speed of business start-ups and kick starting bank lending.
Cameron’s speech reflected the plans for businesses laid out in a new document, which was released last week in partnership with the Liberal Democrats.
In the document, the coalition government promised to introduce a one-in-one-out rule, whereby no piece of new regulation would be introduced without the exit of another. It also stated it would find a practical method of making small business rate relief automatic and would aim to level the playing field between small and large retailers, by enabling local councils to take into account competition laws whilst drawing up plans to shape new retail development.
The government added it would make the UK one of the fastest countries in the world to set up a new business and would end the ‘gold-plating’ of EU rules, so that British companies would no longer be at a disadvantage against their EU competitors.
Placing further emphasis on change in his speech, Cameron said he wanted to rapidly deliver the global banking reforms agreed by the G20. He said: “We will reform the banks… making them serve the real economy and not just themselves – by opening up credit lines to businesses.”
The Prime Minister added he wanted expand Britain’s trading partners further abroad: “The UK exports more to Ireland than to Brazil, Russia, India and China combined,” Cameron said. “So the scope for future expansion is simply enormous if we could get the right trading framework in place. I will work with my European partners to push forwards with Free Trade Agreements between the EU and its key trading partners.”
British jewellery, which is becoming an increasingly popular export, could easily benefit from new trading partners and easier barriers of entry abroad. Organisations, such as the British Jewellery Association (BJA), already assist designers to sell their collections in other countries through programmes like the British Jewellery Export Scheme, which is being launched this summer.