Rumours abound over Economic Regeneration Bill
Recent criticism aimed at the government’s lacklustre
growth agenda, and a rather empty looking parliamentary calendar
(after the proposed Lords reform was dropped), has apparently left
ministers frenziedly drawing up plans for a bill to help stimulate
A heavily-leaked report of an Economic Regeneration Bill for the
autumn recently surfaced in the media.
Rumour has it the bill could entail a range of business-friendly
measures, from changes in employment law to a relaxation of
It has even been suggested that the bill could pave the way for
a third runway at Heathrow, new nuclear power stations, and
increased infrastructure projects.
If the rumours are true about a new Economic Regeneration Bill,
then pressure surrounding major barriers to growth, certainly on
infrastructure, could be alleviated.
Businesses up and down the country feel constrained by
inadequate infrastructure be it transport, energy or digital
connectivity, as improvements are often at the mercy of the
Any changes to the planning system in the Economic Regeneration
Bill should be aimed at making it as straightforward as possible
for projects of national strategic importance (such as capacity
expansion at our airports and on our energy grid) to obtain
permission, while safeguarding the rights of local communities.
Already, there are measures going through parliament aimed at
injecting some growth into the economy – for example, the
Enterprise and Regulatory Reform Bill, soon to go through the House
of Lords, which aims to strengthen the business environment and
reduce regulatory burdens.
The bill includes provisions to legislate for the establishment
of the Green Investment Bank, make changes to the employment
tribunal system, reduce inspection burdens on business, and to
Many of the proposals in this bill are welcome and should make a
real difference to businesses on the ground.
These measures will help to boost business confidence and reduce
burdens on firms.
However, the Enterprise and Regulatory Reform Bill won’t solve
some of the major barriers to growth faced by businesses such as
access to finance, investment incentives, and problems around
Kent businesses work hard every day to create jobs, wealth and
worth in this challenging economic climate.
This parliamentary session must focus on growth and on
increasing business confidence to grow, innovate and create
Let's hope the rumours surrounding the Economic Regeneration
Bill translate into substantive measures that will help business
kick-start growth in the real economy.
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