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Government’s missed opportunity to reduce red tape

The Telegraph reports “Insolvency Service reform scrapped - the Government has scrapped plans to reform the process that leads to rogue directors being struck off.”

Apparently in order to “reduce red tape for the smallest companies”, the Department for Business, Innovation and Skills has shelved an initiative to streamline the process of insolvency practitioners (many of whom are micro businesses) reporting directors’ misconduct.

How red tape can be reduced by not streamlining a burdensome regulatory process is beyond me!
 

 

 

Date: 3rd September, 2012
Author: Chris Laughton

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